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Sunday, September 25, 2022

IPA to sell over 213 million shares

The Saigon Times

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HCMC – I.P.A Investments Group JSC, which trades its IPA shares on the Hanoi Stock Exchange, is set to offer 213.8 million shares to its existing shareholders to raise its charter capital.

The shares will be issued at a ratio of 1:1, meaning that for each share held, shareholders can buy one new share for VND10,000, the local media reported.

The share sale will be conducted this year or next after the plan is approved by the State Securities Commission.

The firm will get some VND2.14 trillion from the share sale, which will be prioritized for its investment, acquisition of shares in Post-Telecommunication Joint Stock Insurance Corporation (PTI), and restructuring.

In the first half of the year, IPA posted VND150 billion in revenue, up 26% year-on-year.

Despite the news on its share sale, IPA closed the session today, September 23, down over 2%.

The poor performance of largecaps dragged the VN-Index of the HCMC bourse down by 11.42 points, or 0.94%, from the session earlier, at 1,203.28, with 162 gainers and 287 losers.

Over 485 million shares worth VND11.3 trillion changed hands, up 2.5% in volume and down 3.2% in value, from the previous session.

In the VN30 basket, 27 stocks fell into negative territory.

Insurer BVH and gas firm GAS bucked the downtrend to end up 5.8% and 1.4%, respectively.

Farming stock HAG gained ground and took the lead by liquidity, with 38.9 million shares changing hands.

On the Hanoi bourse, a selloff of bluechips drove the HNX-Index down by 1.2 points, or 0.45%, against the session earlier, at 264.44.

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