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Tuesday, May 24, 2022

DRH Holdings to sell over 60 million shares

The Saigon Times

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HCMC – DRH Holdings (DRH) is set to issue over 60.3 million shares from March 21 to April 21 to double its chartered capital to more than VND1.2 trillion.

With the price of VND12,000 per share, the firm will get VND723.6 billion from the share sale, the local media reported.

The firm will contribute VND500 billion to East Saigon Real Estate Trading and Development Company and spend VND200 billion raising its ownership in Binh Duong Mineral and Construction JSC and working capital.

In the fourth quarter of 2021, DRH reported VND39 billion in revenue, up 53% year-on-year, and VND7.7 billion in after-tax profit, down 32%, year-on-year.

In another development, Nguyen Van Canh, the father of Nguyen Hoang Hai, general director of EVN Finance (EVF), has registered to purchase 15 million EVF shares to raise his ownership in the firm. The transaction will be conducted between March 14 and April 12.

DRH closed the trading session today, March 8, down 5.77%, while EVF inched down 0.6%.

With losers outstripping gainers by 350 to 95, the VN-Index of the Hochiminh Stock Exchange dipped by 25.34 points, or 1.69%, against the session earlier, at 1,473.71. Over one billion shares worth VND34.5 trillion changed hands, up 5% in volume and 10% in value from the previous session. Block deals contributed over VND2.2 trillion to the total value.

The bluechip group was among major drags of the main index, with lender VCB reporting the sharpest drop in the VN30 basket at 4%.

The Hanoi Stock Exchange turned negative with 83 stocks rising and 172 others falling. The HNX-Index dropped by 6.98 points, or 1.65%, against the session earlier, at 445.89.

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