HCMC – Nam Kim Steel JSC, whose NKG shares are traded on the Hochiminh Stock Exchange, has announced its plan to sell 131.6 million shares to its shareholders, according to the local media.
The steelmaker plans to offer shares to existing shareholders at a 50% ratio, allowing them to buy one share for every two shares held, at a price of VND12,000 per share.
The share offering is expected to take place in the rest of this year, pending approval from the State Securities Commission.
With the share sale, Nam Kim Steel is expected to mobilize VND1,579.7 billion. All proceeds from the sale will be used to contribute capital to Tom Nam Kim Phu My Co., Ltd. for developing a roofing steel plant project.
Closing the trading session today, September 27, NKG inched up by 0.23% to VND21,850 per share, with around 3,100 shares changing hands.
On the southern bourse, the VN-Index of the Hochiminh Stock Exchange inched down by 0.57 point, or 0.04%, against the day earlier at 1,290.92 points, with 148 winners and 228 losers.
Around 950.8 million shares worth VND21.6 trillion were traded on bourse, with block deal transactions contributing around VND2.3 trillion to the overall value.
The VN30 basket had 11 stocks advancing and 11 declining, with its index closing up nearly two points, fueled by momentum from bank stocks.
The best performers in the basket included STB, which rose 2.6%, while SHB increased by 2.3% and TPB gained over 1.5%. In contrast, VHM dropped by 2.3% and was the biggest burden on the overall index.
Lender VPB took the lead by liquidity on the market, with 62.86 million shares transacted.
On the northern exchange, the HNX-Index lost 0.21 point, or 0.09%, against the previous session at 235.71 points. Total trade volume reached around 64.73 million shares worth a total of VND506.65 billion.
