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Wednesday, May 18, 2022

MB Capital to sell entire stake in Fideco

The Saigon Times

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HCMC – MB Capital Management JSC, a unit with the involvement of Phan Phuong Anh, a board member of the HCMC Foreign Trade Development & Investment Corporation (Fideco/FDC), has registered to sell all its 1.9 million FDC shares, or a 4.92% stake.

The transactions will be conducted from February 17 to March 18 this year.

Earlier, between December 20, 2021 and January 6 this year, MB Capital sold 4.16 million FDC shares to reduce its ownership to 4.92% from 15.69% and was no longer Fideco’s major shareholder.

In related news, Le Chi Hieu has tendered his resignation from his post as Fideco chairman due to health issues. Hieu was born in 1957. He took the post of Fideco chairman in April 2019, reported Dau Tu Chung Khoan newspaper.

Fideco then accepted his resignation on February 8 and appointed Tran Bao Toan to the post the same day.

On November 25 last year, the Ministry of Public Security had prosecuted and detained Quan Minh Tuan, the then general director of Fideco. One day later, the company decided to dismiss Tuan from his post and appointed Nguyen Khanh Linh to take over the post.

Wrapping the year 2021, Fideco earned over VND185 billion in revenue, down 2.2% year-on-year and VND13.6 billion in after-tax profit while it suffered financial losses of VND25.9 billion in the same period of 2020.

Closing the session today, February 15, FDC improved 5.62% to VND18,800.

In another development, trading on the local stock market was upbeat today.

The benchmark VN-index of the Hochiminh Stock Exchange bounced back, adding 20.79 points, or 1.41% over the session earlier at 1,492.75. Turnover on the southern bourse contracted 25% in volume and 24% in value at over 606 million shares and over VND19 trillion. Shares traded in block deals contributed more than VND1.6 trillion to the overall value.

Bluechips were the main supporters of the main index, as up to 27 stocks in the VN30 basket advanced.

The HNX-Index of the Hanoi market also closed higher, gaining 2.83 points, or 0.67% against the previous session at 423.84.

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