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Saturday, October 1, 2022

CII is no longer parent company of NBB

The Saigon Times

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HCMC – HCMC Infrastructure Investment JSC (CII) has sold over 2.1 million shares of NBB Investment Corporation (NBB) to cut its ownership in the latter from 51.14% to 49%.

After the share sale on March 7 and 8, CII is no longer the parent company of NBB, the local media reported.

Earlier, CII approved a plan to divest its stake in NBB to convert the latter from a subsidiary to an affiliate.

Since late October last year, CII has divested its holding in NBB six times, reducing its ownership from 87.9% to 49%.

In the fourth quarter of 2021, NBB gained nearly VND7.2 billion in revenue and some VND3 billion in after-tax profit, down 99.6% and 97.7% year-on-year, respectively.

Closing the session today, March 9, NBB lost 2.62%, extending its falling streak for the third straight session.

The VN-Index of the Hochiminh Stock Exchange inched up 0.03 points from the session earlier at 1,473.74, with 209 winners and 245 losers. Trade volume totaled over 930 million shares worth VND30.5 trillion, down 9.7% and 10.8% against the previous session, respectively.

Due to high demand, many oil and gas stocks traded in positive territory, with PXS closing at its daily ceiling price and PVD jumping by 6%.

The HNX-Index of the Hanoi Stock Exchange maintained its downward spiral, dropping by 1.29 points, or 0.29%, against the session earlier, at 444.6.

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