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Saturday, January 28, 2023

EVN Finance gets nod to double charter capital

The Saigon Times

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HCMC – The State Bank of Vietnam has approved EVN Finance Joint Stock Company’s plan to raise its charter capital by a maximum of nearly VND3.55 trillion through a stock rights offering and an employee stock ownership plan (ESOP).

Of the amount, more than VND3.51 trillion, equivalent to over 351 million shares of EVN Finance at a par value of VND10,000, will be mobilized through the stock rights offering, while over VND35.1 billion will come from the ESOP.

Once the deal is done, EVN Finance, whose EVF shares are traded on the Hochiminh Stock Exchange, would see its charter capital up two-fold from VND3.5 trillion to over VND7 trillion.

The central bank asked EVF to increase its charter capital in line with the prevailing regulations.

Between January and September in 2022, EVF had seen its pre-tax profit up 13% year-on-year at over VND332 billion.

Closing the trading session today, January 9, EVF shed 0.25% to VND8,090.

The benchmark VN-Index of the Hochiminh Stock Exchange added 2.77 points, or 0.26%, over last Friday at 1,054.21, with 149 advancers and 234 decliners.

More than 475 million shares worth over VND8.5 trillion changed hands on the southern bourse, falling over 31% in volume and nearly 29% in value against the previous session. Shares traded in block deals contributed around VND2 trillion to the overall value.

Lender VCB was a major contributor to the main index’s rebound. It was also the biggest winner among bank stocks as well as among bluechips in the VN30 basket. VCB rose 3.5% to its intraday high of VND86,900.

Some other bluechips such as property developer NVL, low-cost carrier VJC, fuel distributor PLX, and dairy firm VNM contributed to the rise of the VN-Index.

On the Hanoi exchange, the HNX-Index reversed course and ended 0.47% lower, losing 0.98 points at 209.67, with 69 stocks rising and 76 others falling. Stock brokerage SHS fell into negative territory but led the Hanoi market by liquidity, with some 7.7 million shares transacted.

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