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Saturday, June 22, 2024

Sembcorp to acquire shares in GELEX Group

The Saigon Times

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HCMC – GELEX Group JSC (stock code: GEX) has announced an agreement with Sembcorp Industries, wherein the subsidiary of the Singapore company Sembcorp will either acquire shares or inject capital into GELEX Group’s operational power projects.

GELEX’s operating power portfolio includes wind, solar, and hydro power plants with a total capacity of 245 MW. Both entities will pursue regulatory approvals and undertake legal procedures to finalize the transaction.

This transaction will increase the capacity of Sembcorp’s renewable energy projects in Vietnam, including wind, solar, and hydroelectric power, to over 450 MW.

Along with the above agreement, GELEX and Sembcorp plan to cooperate in developing new renewable energy projects, contributing to the energy transition and sustainable development in Vietnam.

Closing the trading session today, GEX inched up 0.69% against the previous session to VND22,000 per share on the Hochiminh Stock Exchange, with over 20.5 million shares changing hands.

On the southern bourse, the benchmark VN-Index shed 1.61 points, or 0.15%, against the previous session, at 1,100.07 points, with 188 advancers and 321 decliners.

Total trading volume exceeded 789.4 million shares worth VND16.04 trillion, down 23.36% in volume and 22.76% in value compared to the previous session. Block deals contributed over VND1.58 trillion to the overall value, with 59.25 million shares transacted.

VIX took the lead by liquidity with over 45.32 million shares traded. At the close of the trading session, it increased by 1.3% to VND15,950.

SSI recorded a 2.11% rise, closing at VND31,450 per share. It was among the top five stocks by liquidity, with more than 20.86 million shares matched.

On the Hanoi Stock Exchange, the HNX-Index lost 0.54 points, or 0.24%, ending the session at 226.11 points, with 53 winners and 107 losers. The trading volume on the northern market totaled 92.31 million shares, valued at VND1.7 trillion.

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