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Wednesday, July 24, 2024

Coteccons to issue 24.8 million shares to raise charter capital

The Saigon Times

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HCMC – Coteccons Construction, which trades its CTD shares on the Hochiminh Stock Exchange, will issue 24.8 million shares to its existing shareholders to increase its charter capital.

The issuance ratio is 33.33%, which means shareholders will get one additional share for every three shares held.

In the first half of 2023, Coteccons gained VND6.7 trillion in revenue, up 30%, and VND52 billion in after-tax profit, a 10-fold increase year-on-year.

The construction company previously set a target of achieving VND16.2 trillion in revenue, and VND233 billion in after-tax profit for the entire year. With this positive business performance, Coteccons has accomplished 41.5% of the year’s revenue target and 22.3% of the profit target.

Closing the trading session today, August 25, CTD soared to VND62,400 per share, up 4.87% over the previous session, with over 1.5 million shares changing hands.

Regarding the stock market, the selling pressure on blue-chip stocks dragged the VN-Index of the Hochiminh Exchange, even though the stocks of seafood and textile companies showed positive performance.

The main index lost 6.02 points, or 0.51% lower than the session earlier, at 1,183.37 points, with 173 winners and 331 losers.

Trade in the southern bourse inched up 4.91% in volume and 10.07% in value against the previous session, with 893.34 million shares valued at VND20 trillion changing hands. Over 81 million shares worth VND1.8 trillion were transacted in block deals.

Most stocks in the VN30 basket fell into negative territory, with 23 decliners and only seven advancers.

VND and VIX inched up 2% at the end of the trading session, taking the lead by liquidity with 50.31 million and 42.44 million shares matched, respectively.

On the northern bourse, the HNX-Index inched down 0.32 points, or 0.13%, against the previous session to close at 242.9, with 78 advancers and 95 decliners.

There were 94.82 million shares valued at over VND1.7 trillion changing hands on the northern market.

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