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Saturday, December 3, 2022

Angimex to shelve share sale plans

The Saigon Times

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HCMC – An Giang Import-Export Company (Angimex), whose AGM shares are traded on the Hochiminh Stock Exchange (HOSE), will get feedback from its shareholders on the suspension of share sale plans at its second extraordinary general meeting.

These share issue plans were passed at the company’s annual general meeting held on March 15 this year.

According to a recent announcement of HOSE, Angimex has to register to organize its second extraordinary shareholders meeting before November 14 this year. The event could be held between December 12 and 19, HOSE said.

Specifically, Angimex is set to cancel the share issues to pay dividends for its shareholders for 2021 and 2022, and stop issuing bonus shares to its existing shareholders.

In late June this year, Angimex chaired its first extraordinary shareholders meeting to pass a revised business plan and appoint new people to the board after some resigned.

The board sought to adjust Angimex’s revenue and before-tax profit targets down to VND3,939 billion and VND25 billion, falling by 51% and 64%, respectively, against the earlier-approved figures.

In the year to September, Angimex had seen its net revenue rise 33% year-on-year at nearly VND3,092 billion. It suffered a net loss of VND35.6 billion, compared to almost VND18 billion in profit recorded in the same period last year.

On the local stock market, AGM shed 0.36% against the previous session at VND13,800 today, November 1.

With winners outnumbering losers by 274 to 182, the benchmark VN-Index on the HOSE added 5.81 points, or 0.57%, over the session earlier at 1,033.75.

The southern bourse saw nearly 614 million shares valued at around VND10.7 trillion changing hands, contracting 7% in volume and 6% in value day-on-day. Shares transacted in block deals made up over VND915 billion of the overall value.

Among bluechips in the VN30 basket, 17 closed up, nine others ended down, and four moved sideways.

Local leading steelmaker HPG led the HCMC market by liquidity, with over 81.5 million shares traded.

On the Hanoi bourse, the HNX-Index gained 1.93 points, or 0.92%, compared to yesterday at 212.36, with 95 advancers and 69 decliners.

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