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NAF to acquire 99.9% stake in Nghe An Food

The Saigon Times

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HCMC – Nafoods Group JSC, which trades its NAF shares on the Hochiminh Stock Exchange, has approved a plan to spend VND309 billion buying all assets from Nghe An Food Products JSC (Naprod) to secure a 99.9% stake in the latter.

NAF, a major shareholder of Nghe An Food, is holding a 5% stake in Naprod, the local media reported.

The firm is set to complete asset transfer prior to February 28.

Naprod is headquartered in Vinh City in Nghe An Province, with chartered capital of VND62 billion. The firm specializes in processing and preserving vegetables.

Closing the trading session today, February 6, NAF lost 0.95%.

Strong gains of many bluechips sent the VN-Index of the HCMC bourse up 12.14 points, or 1.13%, from the session earlier, at 1,089.29, with 219 winners and 181 losers.

Over 527 million shares worth VND9.6 trillion changed hands, down 6.5% in volume and 10.9% in value against the previous session.

The group of banks reported the sharpest rise and became among main drivers of the index. Lenders BID, VCB and TCB gained over 3%, while bank stock MSB climbed by 5.7%, ending its three-session losing streak.

Petroleum stock PLX closed at its intraday high, while insurer BVH, rubber group GVR and dairy firm VNM were in positive territory.

On the Hanoi Stock Exchange, the HNX-Index slid 0.81 points, or 0.38%, from the previous session, at 214.47, extending its falling streak for a fourth straight session.

Securities firm SHS ended the day at the reference price, but took the lead by liquidity on bourse with 10.4 million shares changing hands

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