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Friday, July 19, 2024

CII seeks to divest from subsidiary

The Saigon Times

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HCMC – HCMC Infrastructure Investment JSC (CII) has approved the divestment from its subsidiary Sai Gon Water Infrastructure Corporation (SII) and authorized its management to decide the relevant issues.

As of December 31, 2021, CII owned 50.61% of SII.

Earlier, CII repeatedly sold shares of NBB Investment Corporation to reduce the ownership at the corporation from 87.94% to 49%. In specifics, CII sold 6.3 million NBB shares from October 26 to 29 last year; 11.5 million between November 9 and 19; 3.1 million from November 24 to December 14; 5.2 million from January 12 to 20 this year; and nine million from January 25 to February 23.

In related news, the Hochiminh Stock Exchange has announced that CII was ineligible for margin trading as the company reported a minus after-tax profit in 2021, specifically minus VND332.4 billion, much lower than the VND253.9 billion in 2020.

In addition, its capital for business operations was minus VND881.7 billion in 2021.

Closing the session today, March 22, CII surged 6.89% at VND34,150, while SII picked up 6.96% at VND16,900.

On the Hochiminh Stock Exchange, winning stocks outstripped losing ones by 246 to 190 and the VN-Index added 8.83 points, or 0.59%, against the session earlier, at 1,503.78 points.

Nearly 947 million shares worth over VND28.4 trillion were traded, up 19% in volume and 17% in value from the previous session. Block deals contributed nearly VND1.8 trillion to the total value.

Meanwhile, the HNX-Index rose 3.06 points, or 0.67%, at 461.35 points. The northern bourse saw nearly 141 million shares valued at over VND4.1 trillion changing hands.

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