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Tuesday, June 18, 2024

Gemadept to sell over 100 million shares to increase charter capital

The Saigon Times

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HCMC – Gemadept Corporation (GMD) will offer more than 100.45 million shares to its existing stakeholders this year to raise its charter capital.

The shares will be offered at VND20,000 each. Gemadept’s charter capital was expected to rise to over VND4 trillion.

GMD will announce the specific share issue time after getting the permission from the State Securities Commission.

Of the money earned from the share issue, VND800 billion will be provided to Nam Dinh Vu Port JSC to expand the port and contributed to inland waterway port projects; while VND1 trillion will be provided to Gemadept-Terminal Link Cai Mep Terminal JSC. The remaining VND209 billion will be used to purchase assets to serve the company’s business activities.

As for Gemadept’s performance, in the first quarter of this year, GMD recorded revenue of VND879.9 billion, up 28% year-on-year. Its pre-tax and after-tax profit reached VND350.24 billion and VND319.16 billion, respectively.

This year, the company set a target to generate consolidated revenue of VND3.8 trillion and pre-tax profit of VND1 trillion, rising 19% and 24%, respectively, over the figures recorded in 2021. Thus, GMD has completed 35% of its profit target for this year.

Closing the session today, June 23, GMD soared 6.85% at VND65,000.

On the southern bourse, many stocks bounced back strongly after corrections, including large-cap ones in the banking, gas and oil, and securities sectors.

As a result, the VN-Index added 19.61 points, or 1.68%, at 1,188.88 points with the number of gainers outnumbering that of losers by 318 to 153.

There were over 440.7 million shares worth nearly VND10.2 trillion changing hands, down 25% in volume and 23% in value against the previous session.

On the Hanoi Stock Exchange, the HNX-Index rose 7.79 points, or 2.89%, to close at its intra-day high, at 277.18.

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