HCMC – FPT Digital Retail JSC, which trades its FRT shares on the Hochiminh Stock Exchange, has passed a plan to pour an additional VND225 billion into its affiliate FPT Long Chau Pharma JSC to raise its ownership in the latter.
After the capital contribution, FPT Retail will raise its stake in Long Chau to 89.83%, while the pharmaceutical company will see its charter capital increase to VND450 billion.
Between January and September, FPT Retail posted over VND21.7 trillion in revenue, up 55% year-on-year.
As of the end of September, FPT Retail had 745 FPT Shop outlets, while Long Chau operated 800 pharmacies nationwide.
FRT continued its downward spiral on bourse with over 2% lost at the close today, November 7.
The HCMC exchange remained negative as losers outnumbered gainers by 383 to 75. Strong selling pressure and poor performance of largecaps dragged the VN-Index down 21.96 points, or 2.2%, from the session earlier, at 975.19.
Some 647 million shares worth VND10.6 trillion changed hands, down 14% in volume and 18% in value from the previous session.
Many securities stocks such as VND, SSI, VIX, VCI and HCM ended at their floor prices.
Lender ACB gained 2.5%, while bank stocks VCB and BID stood at their reference prices. Many other lenders tumbled over 5%.
Steelmaker HPG fell into negative territory, but took the lead by liquidity with a matching volume of 38.3 million shares.
On the Hanoi bourse, the HNX-Index slid 2.93% against the session earlier at 198.56 points.
Securities firm SHS lost ground, but was the most actively traded stock on bourse with some 15 million shares changing hands.