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Wednesday, June 19, 2024

MBS plans to issue over 109 million shares

The Saigon Times

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HCMC – MB Securities JSC, which trades its MBS shares on the Hanoi Stock Exchange, has plans to issue more than 109 million shares to existing shareholders at a discount.

Existing shareholders will be able to buy one new share for every four shares held at VND10,000 per share. Shares not purchased by shareholders will be sold to other investors at the same price, and will not be transferable within one year from the end of the offering.

The share issuance is expected to take place in 2024, following approval from the State Securities Commission of Vietnam.

The offering is projected to raise nearly VND1.1 trillion. After the share issue, the company’s chartered capital would increase to around VND5.76 trillion.

Regarding its business performance, MBS reported a surge of 101% in revenue and 51% in net profit in the first quarter compared to the same period last year, reaching VND674 billion and VND183 billion, respectively.

Closing the trading session today, May 16, MBS edged up by 0.33% to VND30,000 per share, with a trading volume of over 3.8 million shares.

The VN-Index jumped by 14.39 points, or 1.15%, to 1,268.78 points at the close on Thursday, with 300 gainers and 129 losers.

Trading volume reached over 885 million shares valued at VND22.67 trillion, barely increasing in volume and value compared to the previous session. Block deals totaled over 76.2 million shares worth VND2 trillion.

Bank stocks led the market rally with high liquidity. TCB was the top performer in the VN30 basket, rising 3.7% to VND49,900, with over 20.8 million shares traded, followed by HDB, up 3% to VND24,200, and CTG rising by 2.6% to VND33,200. Other notable gainers included ACB, VIB, BID, STB, SHB, MBB and TPB, all up over 2%.

SHB, MBB, and ACB had the highest liquidity, with SHB having over 36.7 million shares transacted, and each of ACB and MBB having around 31 million shares traded.

Outside the banking sector, the electricity sector also saw broad gains. Notable gainers included TV2 and CIG, which hit the ceiling prices of VND39,250 and VND5,000, respectively.  Other stocks in this sector such as PC1, HNA, S4A, NT2 and REE rose between 2% and 3%.

On the downside, some stocks declined significantly. NO1 fell by 4.1% to VND6,600, DCL dropped by 4% to VND28,900, CMG decreased by 3.5% to VND60,600, and VNS slid by 3% to VND11,150.

The Hanoi Stock Exchange closed with 113 advancers and 73 decliners. The HNX-Index rose 1.24 points, or 0.52%, to 240.02 points. The total matching volume was over 99.7 million shares valued at VND2.15 trillion.

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