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Tuesday, July 16, 2024

BaF Vietnam to establish transport subsidiary

The Saigon Times

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HCMC – BaF Vietnam Agriculture JSC, whose BAF shares are traded on the Hochiminh Stock Exchange, has announced a plan to establish a new transport company with charter capital of VND20 billion.

BAF Vietnam Logistics Limited Liability Company is expected to start operations this month, with its office located on Vo Nguyen Giap Avenue, An Phu Ward, Thu Duc City.

This new entity will mainly provide transportation and logistics services.

BaF Vietnam is set to contribute VND14.73 billion in cash and VND5.27 billion in assets to the new concern.

BaF Vietnam currently has 19 subsidiaries in the fields of livestock farming, meat processing and manufacturing.

Closing the trading session today, December 1, the BAF stock inched up by 0.59% against yesterday’s session to VND25,550 per share, with over 3.1 million shares changing hands on the southern bourse.

The benchmark VN-Index of the Hochiminh Stock Exchange added 8.03 points, or 0.73%, against yesterday’s session, closing at 1,102.16 points.

The total trading volume reached nearly 603.6 million units, with a value of VND12.1 trillion, down 16% in volume and value versus the previous session. Around 34.25 million shares were transacted in block deals, contributing over VND893.7 billion to the overall value.

Stocks in the VN30 basket were main drivers of the southern market, with 23 stocks advancing today. Only VHM was still in negative territory, falling by 1%.

VJC and VRE stole the spotlight as they both surged by over 3%, followed by SSI with a 2.2% increase. BID, GAS, VNM and HPG contributed more than 0.5 point each to the overall index.

The HNX-Index of the Hanoi exchange gained 0.11 point, or 0.05%, versus yesterday, at 226.26 points, with 67 stocks rising and 80 others dipping. There were more than 74.1 million shares worth VND1.3 trillion changing hands on the northern market.

SHS closed the session up by 1.7% at VND18,400 per share, with 24.57 million shares transacted.

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