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Wednesday, November 30, 2022

City Auto to acquire majority stake in Nha Trang Auto

The Saigon Times

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HCMC – City Auto Corporation (stock code CTF) has issued a resolution on the acquisition of a majority stake in Nha Trang Auto Corporation.

Tran Long, an individual related to Tran Ngoc Dan, CTF board chairman, and Tran Lam, a board member at CTF, will transfer one million shares of Nha Trang Auto Corporation to CTF. Once the deal is done, CTF will raise its ownership in Nha Trang Auto to 4.65 million shares, or a 93% stake in the latter.

As for CTF’s business performance, its net revenue in the first half of 2022 rose slightly against the year-ago figure to VND2,564 billion, while its after-tax profit surged over 132% year-on-year to more than VND38 billion.

On the Hochiminh Stock Exchange, CTF ended 0.21% higher at VND24,050 today, October 19.

The benchmark VN-Index of the HCMC market shed 3.59 points, or 0.34%, today at 1,060.07, with 265 decliners and 144 advancers.

The southern bourse saw over 399 million shares worth over VND8.2 trillion changing hands, down 22% in volume and around 17% in value over the session earlier. In this session, liquidity dropped to its lowest in two months, according to Dau tu chung khoan newspaper.

The main index did not fall below the 1,060-point level thanks to the contribution of many big-cap stocks, including four lenders VIB, CTG, BID, and CTG.

Besides, steelmaker HPG was the most actively traded stock on the southern bourse, with 20.24 million shares traded.

On the northern bourse, the HNX-Index shed 1.22 points, or 0.53%, against the previous session at 227.9, with 59 stocks rising and 106 others dipping.

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