HCMC – Kinh Bac City Development Holding Corporation (HOSE: KBC) has opened a representative office in Hanoi City, with Dang Nguyen Nam Anh, a son of KBC’s board chairman Dang Thanh Tam, appointed as its representative.
The office is located at 40 Phan Boi Chau Street in Hoan Kiem District. KBC has also approved a plan to issue 250 million shares via private placement. The new shares will account for 32.57% of the company’s outstanding shares and be priced between a minimum of VND16,200 and a maximum of 80% of the average trading price over the past 30 trading days before regulatory approval.
The share issue is expected to take place between the first and third quarters of 2025, subject to approval from the State Securities Commission.
On September 25, KBC’s subsidiary, Hung Yen Investment and Development Corporation, announced a partnership with the Trump Organization of newly elected U.S. President Donald Trump. The project, with an estimated investment of US$1.5 billion, will feature a five-star hotel, international-standard golf course, luxury residential areas with high-end facilities.
On the same day, the People’s Committee of Hung Yen Province signed a memorandum of understanding with a consortium of investors selected by the Trump Organisation. This consortium includes Hung Yen Investment and Development Corporation, along with two U.S. Investment Funds: IDG and Horitus.
Closing the trading session today, November 19, KBC inched down by 3.62% to VND26,600, with a trading volume of nearly 7.1 million shares.
The VN-Index lost 11.97 points, or 0.98%, to settle at 1,205.15 points on Tuesday, with losers outnumbering winners by a ratio of 75 to 287.
Trading volume reached 511.8 million shares worth VND13.25 trillion, down by 21% and 15%, respectively, compared to the previous session. Block deals accounted for 74.4 million shares worth VND1.89 trillion.
The VN30 basket, which groups the 30-largest cap stocks, saw seven advancers and 22 decliners. The VN30-Index lost 11.15 points, or 0.88%, to 1,259.08 points.
Developer VHM stole the limelight, rising 3.43% to VND42,200 per share. It also was the most actively traded stock on the market, with 26.4 million shares changing hands, adding 1.5 points to the main index.
PLX and BVH gained over 1.5%. Other gainers included CTG, SSB, BID and HDB.
Losses were widespread. VPB, MBB, VCB, and SSI fell between 1.1% and 1.9%. STB, MWG, and GVR lost between 2% and 2.5%. FPT dropped by 3% to VND130,000 per share while BCM fell by 4.5% to VND64,000 per share.
Mid-cap and small-cap stocks also came under pressure. Real estate, construction, and industrial parks stocks such as CIG, QCG, and TDG hit floor prices. CTR, SZC, and VGC dropped by over 6%.
On the Hanoi Stock Exchange, the HNX-Index dropped 2.11 points, or 0.95%, to 219.68 points, with 53 stocks gaining and 93 others dipping. The northern exchange got 32.3 million shares traded with a total value of VND583.4 billion.
