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Hoa Sen to pour VND81 billion into subsidiary in Yen Bai

The Saigon Times

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HCMC – Hoa Sen Group has passed a plan to inject an additional VND81 billion into its Yen Bai Province-based real estate subsidiary Hoa Sen Yen Bai JSC.

After the transaction, the subsidiary of the steelmaker, whose its HSG shares are traded on the Hochiminh Stock Exchange, will increase its charter capital to VND421 billion.

The firm will use the additional capital to boost business activities and develop more projects, the local media reported.

Closing the trading session today, February 24, HSG reversed course to lose 3.8% and reported a matching volume of 13.6 million shares.

The VN-Index of the southern bourse fell 14.1 points, or 1.34%, from the session earlier, at 1,039.56, with 98 winners and 311 losers, dragged by the weak cash flow and the poor performance of large-cap stocks.

Over 430.4 million shares worth VND6.5 trillion changed hands, dipping by 40.3% in volume and 45.8% in value against the previous session.

The VN30 basket became the main drag of the index, with 26 tickers falling in negative territory.

Real estate developer HQC shot up to its upper limit and took the lead by liquidity on bourse with over 32 million shares changing hands.

On the Hanoi exchange, many bluechips closed down, sending the HNX-Index dropping by 1.98 points, or 0.95%, from the session earlier, at 207.32, with 55 advancers and 112 decliners.

Merchant wholesaler AMV gained over 7.6% and was the most actively traded stock on bourse with 6.3 million shares changing hands.

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