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Hoa Sen to issue nearly 100 million shares to pay dividend

The Saigon Times

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HCMC – Hoa Sen Group, which trades its HSG shares on the Hochiminh Stock Exchange, will issue 99.7 million shares to make dividend payments to its existing shareholders for the 2020-2021 fiscal year.

With the stock dividend payment at a ratio of 20%, each shareholder will receive 20 new shares for every 100 shares held, the local media reported.

The steelmaker will begin its issue in September after receiving approval from the State Securities Commission.

The issue will raise the firm’s chartered capital to VND5.98 trillion.

In the second quarter of 2022, HSG posted VND12.2 trillion in revenue and VND265 billion in after-tax profit, down 6.2% and 84.4% year-on-year, respectively.

As of late June, the group’s total assets stood at VND23 trillion, down 13.3% year-on-year.

At the close today, August 5, HSG advanced over 3%, extending its rising streak to five consecutive sessions, and reported a matching volume of 11 million shares.

Strong selling pressure and cautious investor sentiment dragged the VN-Index of the southern bourse down at the close, losing 1.41 points, or 0.11%, from the session earlier, at 1,252.74, with 210 gainers and 228 decliners.

Nearly 699 million shares worth VND15.5 trillion changed hands, down 3.6% in volume and 8.5% in value, against the previous day.

The Hanoi bourse turned positive, with 112 winners and 84 losers. The HNX-Index added 2.17 points, or 0.73%, from the previous session, at 299.9.

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