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Wednesday, October 5, 2022

Louis Holdings and two affiliates pick new chairmen

The Saigon Times

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HCMC – Louis Holdings Group and its affiliates Ladophar (LDP) and Angimex (AGM) have picked new chairmen, replacing Do Thanh Nhan who was arrested on alleged charges of stock market manipulation on April 20.

Louis Holdings picked Vu Ngoc Long, a member of the board of directors, as new chairman, while Ladophar and Angimex selected Pham Trung Kien and Trinh Van Bao to head their boards, respectively.

All business operations of Louis Holdings Group and its affiliates remain normal, according to a statement released by Louis Holdings.

Many stocks linked to the Louis Holdings Group family, including TGG, BII, APG, AGM and SMT, plunged to their lowest daily price levels at the close today, April 21.

Market breadth was still negative as falling stocks outstripped gaining ones by 311 to 132. The VN-Index of the HCMC exchange ended down 14.15 points, or 1.05%, from the session earlier at 1,370.21. Over 810 million shares worth VND23.8 trillion changed hands, up 18% in volume and 16% in value against the day earlier.

Many bank tickers, including MBB, TCB, VPB, BID and CTG, and securities stocks VND and SSI made strong gains, saving the VN-Index from a deep fall.

At the close, the HNX-Index of the Hanoi Stock Exchange shed 3.53% from the session earlier at 366.61 points as many big-cap stocks underperformed.

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