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Thursday, December 1, 2022

An Cuong Wood debuts its shares on HOSE

The Saigon Times

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HCMC – An Cuong Wood-Working JSC today, October 10, started trading its shares on the Hochiminh Stock Exchange (HOSE) under the code ACG.

Some 135.85 million ACG shares are traded at the reference price of VND67,300 per share.

An Cuong is the first firm approved by the southern exchange for listing this year.

Established as a commercial business in 1994, An Cuong turned it into a production company in 2004, with its first plant built in Binh Duong Province.

After some 30 years of its development, An Cuong has become one of the leading enterprises for wood materials and solutions, and woodwork in Vietnam and Southeast Asia.

An Cuong holds a 55% share of the industrial wood and interior furniture market in the local market.

Moving toward a top-of-mind furniture brand in Vietnam, An Cuong is offering its partners and customers a series of products and services by a “One-Stop Shopping Center” solution and other smart home solutions.

Over the past few years, the firm has recorded an annual revenue growth rate of 25%-30%.

With its success and prestige, An Cuong has secured a number of international prizes and certificates, including Green Label in Singapore, SA 8000, the Top 10 construction material firms in 2022 and the Top 50 Vietnam The Best.

Closing its first trading session on the southern bourse today, ACG ended down 4.9% at VND64,000.

The VN-Index of the HCMC bourse ended on an upbeat note as it gained 6.57 points, or 0.63%, from the session earlier, at 1,042.48, with 286 winners and 175 losers. Nearly 693 million shares worth over VND15 trillion changed hands, down 21% in volume and 11.3% in value, against the previous session.

Many bank stocks reversed course to close up, with CTG and BID improving by 3.7% and 2.7%, respectively.

Lender STB advanced 1.5% and took the lead by liquidity with a matching volume of 34.1 million shares.

On the Hanoi bourse, many bluechips performed well, driving the HNX-Index up 3.76 points, or 1.66%, from the previous session, at 229.85.

In the HNX30 basket, 23 stocks were in positive territory.

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