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Hoa Phat to issue over 580 million shares in Q2

The Saigon Times

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HCMC – Local steelmaker Hoa Phat Group, whose HPG shares are traded on the Hochiminh Stock Exchange, is planning to issue more than 580 million shares in the second quarter of this year to increase its charter capital.

At Hoa Phat’s annual general meeting on April 11, the charter capital increase plan in 2024 through the issuance of shares was approved.

Specifically, the steelmarker is expected to issue over 581.4 million shares worth a total of over VND5,814 billion at face value. With the issuance ratio set at 10%, shareholders will receive one more share for every 10 shares held.

The share issuance is scheduled for the second quarter of 2024, after the group receives approval from the State Securities Commission. Hoa Phat’s charter capital would increase to over VND63,960 billion by the end of 2024.

Closing the trading session today, April 12, HPG inched up by 0.17% to VND29,950 per share, with 13.9 million shares changing hands.

The VN-Index of the Hochiminh Stock Exchange improved by 18.4 points, or 1.46% day-on-day, closing at 1,276.6 points, with 317 gainers and 143 losers. The total trading volume was 944.4 million shares worth nearly VND24.1 trillion, up by 37.5% in volume and 45.4% in value compared to the previous session.

The VN30 basket was a key driver of the market as it closed up nearly 22 points, with 29 stocks rising and only MWG adding less than 1%.

The positive performances of the bank stocks today further bolstered investors’ expectations for growth momentum in the early-week sessions ahead. Lender LPB closed at the ceiling price of VND19,550, while CTG rose by 6.5% to VND35,900.

On the Hanoi exchange, the HNX-Index increased by 2.27 points, or 0.95%, against yesterday’s session, at 241.34 points, with 97 advancers and 63 decliners. There were 75.7 million shares valued at VND1.56 trillion transacted.

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