HCMC – Hong Ha Food Investment Development Joint Stock Company (HSL) has approved plans to acquire majority stakes in two real estate firms as part of its business expansion strategy for 2025.
In a newly released resolution, HSL’s board agreed to invest in and buy shares of Milli Land JSC and Binh Thang Agricultural Investment JSC.
Under the plan, HSL will acquire 4.5 million shares of Milli Land for an estimated VND45 billion. Once the transaction is completed, HSL is expected to hold a 90% stake, making Milli Land its subsidiary.
The company will also purchase 2.85 million shares of Binh Thang Agricultural Investment for VND28.5 billion. HSL aims to own 95% of the firm after the deal, giving it full controlling rights.
Earlier on November 28, HSL approved an investment policy in the green energy sector. The board authorized the CEO to determine investment plans and sign memoranda of understanding, cooperation agreements, and transfer contracts for a 45MW wind power project in the former province of Ninh Thuan with Tai Tam Group JSC.
At the close of today’s session, December 11, HSL shares dropped 1.84% to VND8,550, with over 1.06 million shares traded. The company’s market capitalization stood at around VND329.75 trillion.
On the broader market, the VN-Index fell 20.08 points, or 1.17%, to 1,698.9, with 104 gainers and 192 losers on the Hochiminh Stock Exchange. More than 592.5 million shares worth VND16.22 trillion changed hands, down 8% in volume and 18% in value against yesterday. Block deals accounted for over 95.3 million shares worth VND2.58 trillion.
Vingroup stocks remained in the spotlight, with VIC and VPL hitting the floor at one point. VIC closed 1.9% lower at VND146,000, while VPL shed 5% to VND91,000. VHM slid 2.3% to VND101,100, and VRE dipped 1.7% to VND29,500.
Other major decliners included VNM and VPB, which lost 2–3%, while VJC plunged over 4% to VND188,000.
Mid-cap and small-cap stocks such as DRH, SHI, and HVX hit their upper limits, with BMP also closing at ceiling price of VND169,700.
On the downside, FCN, IJC, and VPH slid 3–7%, while HII, HID, VTP and PET closed at floor prices.
Newcomer VPX, the stock of VPBank Securities, fell over 9% to VND30,800 after dropping as much as 23% intraday, with more than 7.2 million shares traded.
On the Hanoi Stock Exchange, the HNX-Index closed down 0.24% at 255.87 points, with 67 advancers and 73 decliners. Trading volume totaled more than 46.5 million shares worth VND861.7 billion, while block trades contributed an additional 4.3 million shares worth VND95.3 billion.
