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Friday, June 14, 2024

Dragon Capital increases stake in Hoa Sen Group

The Saigon Times

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HCMC – Dragon Capital has raised its ownership in Hoa Sen Group, which trades its HSG shares on the Hochiminh Stock Exchange, by acquiring an additional one million shares.

Norges Bank, a member of Dragon Capital, made the purchase on October 6, increasing the group’s ownership from 9.85% to 10.01% of the steelmaker’s charter capital.

In prior transactions, Dragon Capital acquired over 2.1 million shares of HSG on June 16, then sold around one million HSG shares on July 20. On August 2, Dragon Capital bought an additional 1.31 million shares of HSG.

On the contrary, Nguyen Van Chien, a brother-in-law of chairman Le Phuoc Vu of Hoa Sen Group, sold over 10.7 million HSG shares from September 14 to October 5, reducing his stake from 1.74% to 0%.

Regarding business performance, Hoa Sen Group reported revenue of VND8.6 trillion from April to June this year, down 29% over the same period last year. The group’s after-tax profit in the period stood at VND14.16 billion, plunging by 94.7% year-on-year.

Closing the trading session today, October 13, HSB inched down by 0.25% versus yesterday’s session to VND19,650, with over 5.7 million shares changing hands.

Regarding the stock market, the benchmark VN-Index of the Hochiminh Stock Exchange added 3.13 points, or 0.27% day-on-day, at 1,154.73 points, with 192 gainers and 274 losers.

More than 621.4 million shares worth over VND13.9 trillion were traded on the southern bourse, down 3% in volume and value. Block deals contributed more than VND798 billion to the overall value, with 27.6 million shares transacted.

VJC stole the spotlight on the southern bourse today as it surged 6.2% to an over-six-month high of VND103,800. With over 1.31 million shares transacted, VJC contributed 0.87 point to the benchmark VN-Index.

Stocks of businesses in the transport sector were strong performers today, with PVT increasing by 2.4%, HAH by 1.62%, , PVP by over 4%, and VNL by 2.07%.

VIX took the lead by liquidity in the market with 27.36 million shares traded, closing the trading session at VND15,700, down 1.3% versus yesterday’s session.

With 73 advancers and 90 decliners, the HNX-Index of the Hanoi Stock Exchange added 0.62 point, or 0.26%, to 239.05 points. The trade volume totaled 88.8 million shares worth more than VND1.9 trillion.

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