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Friday, September 30, 2022

Bamboo Capital has new name

The Saigon Times

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HCMC – Bamboo Capital JSC, whose BCG shares are listed on the Hochiminh Stock Exchange, has been renamed as Bamboo Capital Group.

The real estate developer owns several subsidiaries active in the renewable energy, property, construction, production, financial and insurance fields. As of June 30, Bamboo Capital had had over 50 subsidiaries and affiliates.

Focusing on the energy and real estate fields, the group is preparing to launch the initial public offerings of two subsidiaries, BCG Land and BCG Energy, in late 2022 and early 2023.

Bamboo Capital will issue over 266.7 million shares to its current shareholders at a ratio of 2:1, meaning that for every two shares held, stakeholders can buy one new share. The starting price of the shares will be VND10,000 each.

In 2022, Bamboo Capital looks to book VND7.25 trillion in net revenue, up 280% year-on-year, and VND2.2 trillion in after-tax profit, up 220%.

Closing the trading session today, September 6, BCG improved over 3.2%, extending its winning streak for the fourth straight session.

The VN-Index of the southern bourse mostly moved flat to end at 1,277.4 points, with 191 gainers and 261 decliners. There were 581.5 million shares worth VND14.6 trillion changing hands, up 11% in volume and 9% in value, from the session earlier.

In the group of lenders, STB, SSB, TPB and EIB stood at the reference prices, while the rest made gains. VPB was the most actively traded stock in the group with over 11.5 million shares changing hands.

Electricity firm POW added 2.1% and took the lead by liquidity on bourse with a matching volume of 30.6 million shares.

On the Hanoi Stock Exchange, the HNX-Index inched up 0.45 points, or 0.15%, from the previous session, at 293.27, supported by big-cap stocks.

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