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Sunday, November 27, 2022

Dragon Capital no longer major shareholder of Gelex

The Saigon Times

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HCMC – Fund management firm Dragon Capital is no longer a major shareholder of Gelex Group Joint Stock Company (GEX) after it sold an additional 379,000 GEX shares on October 21 to cut its ownership in Gelex from 5.03% to 4.98%.

Dragon Capital sold 5.4 million GEX shares on October 7.

Meanwhile, Nguyen Lien Huong, daughter of Gelex board chairman Nguyen Hoa Cuong, registered to buy one million GEX shares to raise her ownership from 654 to 1,000,654 shares, or a 0.12% stake in the firm. The transactions are scheduled from October 19 to November 17.

Nguyen Van Tuan, general director of Gelex, bought 10 million GEX shares between May 4 and 24 this year, raising his stake in the firm from 22.58% to 23.75%.

Nguyen Thi Bich Ha, another daughter of Nguyen Hoa Cuong, bought 850,000 GEX shares from July 18 to 20, raising her ownership in Gelex from 0.024% to 0.124%.

Besides, VIX Securities Joint Stock Company purchased 15 million GEX shares from June 24 to July 22 to acquire a 1.76% stake in Gelex.

In the year to June, Gelex had seen its revenue up over 35% and after-tax profit up 32.5% year-on-year at roughly VND17.7 trillion and around VND1 trillion, respectively.

Gelex targets to obtain VND36 trillion in revenue and VND2.618 trillion in before-tax profit in 2022.

Closing the trading session today, October 27, GEX expanded 6.81% to reach its upper limit at VND12,550.

The local stock market finished today in positive territory.

The benchmark VN-Index of the Hochiminh Stock Exchange gained 34.65 points, or 3.49%, against the previous session to close at its intraday high of 1,028.01, with advancers far outnumbering decliners by 418 to 61.

Turnover on the southern bourse inched up nearly 45% in volume and 38% in value day-on-day at over 647 million shares and over VND11.1 trillion, including some VND1.5 trillion worth of shares traded in block deals.

In the VN30 basket, only two real estate developers NVL and PDR fell slightly. The remaining 28 stocks made gains, with nine of them hitting their ceiling prices.

Among small and medium stocks, those in the securities sector rose sharply. Notably, brokerage stock VND led the HCMC market by liquidity with over 37.1 million shares changing hands.

Similarly, the HNX-Index added 7.68 points, or 3.73% over the session earlier to hit its intraday high of 213.63, with 149 winners and 45 losers.

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