HCMC – Dat Xanh Group JSC (HOSE: DXG) is seeking new investors for 10.8 million shares which could not find buyers at the firm’s recent offering to existing shareholders.
The shares will be offered at VND12,000 each, with preference given to domestic investors and key executives.
DXG initially offered 150.1 million shares to shareholders from January 14 to February 14, 2025. About 139.3 million shares, or nearly 93%, were acquired. The remaining shares are available from February 26 to 28 under the same pricing conditions. These shares will be subject to a one-year transfer restriction.
The company aimed to raise VND1.8 trillion. Of this, nearly VND1.56 trillion was allocated for investment in its subsidiary Ha An Real Estate Investment and Business JSC, while VND243 billion was for bond repayments and financial obligations.
DXG reported revenue of over VND4.7 trillion and net profit of VND253 billion in 2024, up by 27% and 47% against the previous year, respectively. Revenue and profit exceeded its targets by 21% and 12%.
The company has expanded its real estate brokerage division, increasing its affiliated firms from three to 12 in a year. While the unsold shares raise concerns about its capital-raising strategy, strong financial results and investor interest may support market confidence.
DXG shares have fluctuated in recent months, dropping from over VND17,000 per share in late December 2024 to below VND14,000 in mid-February, an 18% decline.
The stock rebounded by 2.19% over the previous session to nearly VND16,300 today, February 27, with nearly 22.8 million shares changing hands.
The VN-Index fell 2.44 points, or 0.19%, to close at 1,305.36 points as losses in large-cap stocks weighed on the market. The Hochiminh Stock Exchange saw 193 advancers and 265 decliners. Trading volume reached nearly 815 million shares valued at VND18.66 trillion. Block deals accounted for 62.55 million shares worth VND1.8 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, lost over 7.19 points to 1,356.43 points due to losers outnumbering winners by 18 to 7.
GVR took the lead among the advancers, rising 2.1% and adding 0.7 point to the main index. PLX and VRE rose by 1.4% and 1.2%, respectively. SSI, VIB, VHM, and VIC made modest gains.
BVH fell by 2.1% to VND56,600, its lowest of the day, while HPG and LPB both dropped by 1.6%.
Real estate stocks gained on strong demand. DXG and NVL were among the five most actively traded stocks, with respective volumes of 22.8 million and 20 million shares. DXG gained 2.2%, and NVL climbed 5%.
Bank stocks mostly declined. EIB and VIB rose by 2.4% and 0.5%, respectively. VPB, CTG, and BID held steady, while others retreated.
In the securities sector, SSI, VDS, and AGR made mild gains. SSI took the lead by liquidity on volume of 41.4 million shares, up by 0.8%. VIX followed with 35.6 million shares but fell by 0.4%.
On the Hanoi Stock Exchange, the HNX-Index dipped by 0.2 point, or 0.08%, to 239.19 points. The session ended with 79 gainers and 97 losers on the northern exchange, with trading volume reaching 62.24 million shares worth a total of VND1.07 trillion.
