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PVC plans to double chartered capital this year

The Saigon Times

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HCMC – PetroVietnam Chemical and Services Joint Stock Corporation, which trades its PVC shares on the Hanoi Stock Exchange, plans to double its chartered capital to VND1 trillion by issuing 50 million shares this year.

Ten million shares worth VND100 billion would be issued and gifted to existing shareholders on December 31 at a 5:1 ratio, meaning shareholders will get one new share for every five shares held.

The remainder will be sold to existing shareholders at a 5:4 ratio. They can buy four new shares for every five shares held at a price of VND10,000 each.

The plan will go before the firm’s 2023 general shareholders meeting slated for April 26.

According to its 2023 business plan, the company looks to produce 13,000 tons of products and obtain VND2.5 trillion in revenue and VND29.4 billion in profit after tax.

It wrapped up 2022 seeing its revenue and profit surpassing its targets for the year, with more than VND2.9 trillion in consolidated revenue and VND27.2 billion in profit after tax.

PVC closed the trading session today, April 17, at the reference price of VND15,600 and reported a matching volume of around 1.1 million shares.

With 170 winners and 202 losers, the benchmark VN-Index of the Hochiminh Stock Exchange added 0.92 points, or a fractional 0.09% over the session earlier at 1,053.81 points.

The southern exchange saw nearly 453.8 million shares valued at more than VND8 trillion changing hands, contracting 32.4% in volume and 29% in value compared to the previous session. Over 47.2 million shares traded in block deals contributed VND1.3 trillion to the total value.

With 14 stocks rising and 12 others dipping, the VN30-Index inched up 1.59 points to 1,065.02 points. Real estate stocks NVL and PDR were the best performers in the VN30 basket as they added 4.2% and 3.7% against the session earlier at VND14,800 and VND13,900, respectively.

Lender SHB took the lead by liquidity with over 26.2 million shares changing hands, followed by HAG with around 22.9 million shares and NVL with 16.8 million shares.

On the Hanoi Stock Exchange, the HNX-Index dropped 0.62 points, or 0.3%, from the session earlier, at 206.63 points, with 57 advancers and 121 decliners.

Liquidity on the northern bourse plunged today, with more than 55.5 million shares worth VND721.6 billion changing hands, down around 50% in both volume and value from last Friday.

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