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Tuesday, June 25, 2024

MWG dissolves two subsidiaries

The Saigon Times

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HCMC – Mobile World Investment Corporation, whose MWG shares are traded on the southern exchange, has announced to dissolve its two subsidiaries as part of its restructuring plan.

Those two subsidiaries are 4KFarm JSC and Fully Trusted Logistics JSC.

Established in November 2021, Fully Trusted Logistics JSC primarily operates in the field of road transportation, as well as provides warehousing services and supplies goods to MWG’s retail chains.

4KFarm was launched in Ba Ria-Vung Tau in 2020 by MWG as a high-tech farming model based on four principles: no pesticides, no genetically modified organisms, no growth hormones, and no preservatives.

The dissolution of these two subsidiary companies is part of the restructuring plan mentioned by Nguyen Duc Tai, board chairman of Mobile World, at the recent annual shareholders’ meeting.

After dissolving these two enterprises, the company now has nine subsidiary companies.

On the stock market, MWG shares have grown strongly since late April, jumping from VND48,000 to nearly VND60,000 per share.

Closing the trading session today, May 10, MWG stayed unchanged from the previous session, at VND58,900, with a trading volume of around 9.75 million shares.

On the southern bourse, losers outnumber winners by 261 to 165, driving down the VN-Index by 3.94 points, or 0.32%, to 1,244.7 points.

Over 669.1 million shares worth VND16.3 trillion were transacted on the Hochiminh Stock Exchange, falling by 13.27% in volume and 19% in value compared to the previous session. Block deal transactions contributed over 75.68 million shares worth VND1.6 trillion.

The majority of the stocks in the VN30 basket was in negative territory, with 22 stocks decreasing and only four increasing. SSI, FPT, ACB and TCB are showing signs of improvement with gains of less than 0.5%.

DIG took the lead by liquidity in the market, with nearly 21 million shares changing hands. Its price soared by 1.78% to VND28,600.

On the HNX exchange, there were 75 stocks rising and 87 stocks falling. The HNX-Index increased by 1.1 points, or 0.47%, to 235.68 points. The total trading volume reached over 89.2 million shares valued at VND1.7 trillion.

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