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Sunday, June 16, 2024

Bamboo Capital sells over 148 million shares, FLC family stocks bounce back strongly

The Saigon Times

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HCMC – Bamboo Capital JSC (BCG) has announced that it had successfully sold more than 148 million shares to its existing shareholders, earning some VND1.8 trillion and raising its charter capital to VND4.5 trillion.

The company’s shareholders bought the shares at VND12,000 each, the local media reported. Domestic investors bought nearly 146.8 million shares and foreign investors, some two million shares.

After the share issuance, two large shareholders of BCG remain Nguyen Ho Nam and Helios Service and Investment JSC that hold over 78.7 million and 30.9 million BCG shares, or a 17.63% and 6.92% stake in the company, respectively.

This year, BCG will ask for its shareholders’ approval for a plan to raise the company’s charter capital to VND10 trillion to improve its financial capacity and business activities.

BCG Vice Chairman Pham Minh Tuan said BCG had earlier set a target to earn VND971.5 billion in after-tax profit this year. However, the profit may be higher thanks to its revenue from the Malibu Hoi An project.

Earlier, Transport and Industry Development Investment JSC (TCD), a subsidiary of BCG, had also successfully issued 87.2 million shares to its existing shareholders, increasing its charter capital to over VND1.7 trillion.

Tuan said both BCG and TCD had benefited from incentives for the clean energy development, so they would grow strongly in the coming periods.

In related news, stocks linked to FLC Group such as FLC, ROS, AMD and HAI bounced back strongly after plunging for nearly two weeks following the group chairman’s unannounced share sale.

Specifically, FLC, ROS, AMD, KLF and HAI soared 6.61%, 6.97%, 7%, 10% and 6.97%, respectively, to hit their daily ceiling prices.

ROS led the southern bourse in terms of liquidity with nearly 84.2 million shares changing hands and FLC, 62.43 million shares.

Director of an investment fund in Hanoi said the rise of stocks in the FLC ecosystem had been anticipated earlier. Over the past many years, however, the fund has not been investing in these stocks due to a high risk.

General director of a foreign securities company in HCMC shared the view, saying individual investors should be cautious when investing in these stocks.

Today, the VN-Index increased 7.59 points, or 0.52% over the session earlier at 1,472.89 points, with 226 winners and 235 losers. Turnover on the southern bourse inched up 3.26% in volume and 2.44% in value at over 811.35 million shares and some VND23 trillion, including nearly VND1.3 trillion worth of shares transacted in block deals.

On the northern bourse, the HNX-Index added 6.04 points, or 1.47% versus the previous session at 417.84 points. Over 81 million shares worth VND2.2 trillion were traded today.

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