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Wednesday, June 19, 2024

CII raises stake in NBB

The Saigon Times

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HCMC – HCMC Infrastructure Investment JSC (HOSE: CII) has acquired over 7.8 million NBB shares of 577 Investment Corporation.

The transaction, conducted between May 7 and 27, increased CII’s ownership in NBB from 42.51% to 50.31%.

In the first quarter of 2024, CII made VND878 billion in revenue, up by 17.4% over the same period last year. Its net profit rocketed by 826.8% year-on-year to VND322.9 billion, and its gross profit margin improved to 53.7% from 36.9%.

CII attributed the profit surge to higher returns from the BOT Trung Luong–My Thuan project and profits from NBB.

BOT Trung Luong – My Thuan JSC was acquired as a subsidiary in the fourth quarter of 2023. NBB was added as a subsidiary earlier this year, in the first quarter of 2024.

Closing the trading session today, May 29, CII edged down by 1.17% to VND17,000 per share, with a trading volume of over 4.5 million shares.

The VN-Index of the Hochiminh Stock Exchange fell by 9.09 points, or 0.71%, to close at 1,272.64 points, with 182 gainers and 260 losers.

Trading volume surged 23.5% to 1.072 billion shares, with a total value of VND25.43 trillion, up by 15.3% from the previous session. Block deals contributed 105 million shares worth VND2.47 trillion to the overall value.

Bank stocks showed mixed results. EIB rose by 4.8% to VND19,650 per share, taking the lead by liquidity on the southern exchange with 33.14 million shares traded. LPB increased by 3.79% to VND26,000 per share. On the other hand, HDB, STB, CTG and VIB dropped between 1.7% and 2.9%.

On the Hanoi Stock Exchange, the HNX-Index inched down by 1.43 points, or 0.58%, to 244.15 points, with 88 advancers and 95 decliners. Trading volume on the northern bourse reached 99.6 million shares, valued at VND1.88 trillion.

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