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Friday, July 19, 2024

Dragon Capital raises stake in DGC

The Saigon Times

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HCMC – Dragon Capital has increased its ownership in Duc Giang Chemicals Group JSC, whose DGC shares are traded on the Hochiminh Stock Exchange (HOSE), from 5.96% to 6.07%.

Vietnam Enterprise Investments Limited Fund, a member of Dragon Capital, purchased 400,000 DGC shares on March 13.

According to DGC’s 2023 business plan, its revenue is expected to drop 24.7% over 2022 to VND10,875 billion, while its profit after tax would plunge by half over the year-ago figure to VND3,000 billion.

The firm also plans to pour VND50 billion into its NPK fertilizer factory in the Central Highlands province of Dak Nong and VND500 billion into the Duc Giang-Nghi Son chemical complex project in the north-central province of Thanh Hoa.

Last year, it posted over VND14.4 trillion in revenue and VND6 trillion in profit, up 51.2% and 140.2% over the preceding year, respectively.

Closing the trading session today, March 16, DGC slid 0.95% against the previous session to VND52,000 per share and reported a matching volume of over one million shares.

On the southern bourse, the benchmark VN-Index shed 14.79 points, or 1.39%, against yesterday’s trading session at 1,047.4, with decliners outnumbering advancers by 358 to 55.

Turnover on the HCMC market contracted over 14% in volume and 12% in value versus the previous session at close to 532.9 million shares and more than VND9.4 trillion, including 68.7 million shares valued at over VND1.4 trillion traded in block deals.

Steel stock HPG took the lead by liquidity today, with over 30.2 million shares worth VND20,850 each changing hands.

With 42 winners and 124 losers, the HNX-Index on the Hanoi Stock Exchange lost 2.82 points, or 1.36% day-on-day, at 204.19.

There were around 48.3 million shares worth over VND730.5 billion traded on the northern bourse, including 4.4 million shares transacted in put-through deals worth more than VND82.5 billion.

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