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SGT to sell 74 million shares to current shareholders

The Saigon Times

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HCMC – Saigon Telecommunication and Technologies Corporation, whose shares are traded on the Hochiminh Stock Exchange under the code SGT, has passed a plan to sell a maximum of 74 million shares to its existing shareholders to raise its charter capital.

For each share held, shareholders can buy one new share for VND10,000.

The proceeds from the share sale are expected to reach VND740 billion, which will help increase the firm’s financial capacity.

After getting approval from the State Securities Commission, SGT will start issuing its shares, the local media reported.

Maintaining its downtrend, SGT plunged to its floor price at the close today, October 25.

On the southern bourse, upbeat investor sentiment and strong gains of large-cap stocks sent the VN-Index up 11.55 points, or 1.17%, from the session earlier, at 997.7, with 199 gainers and 247 losers. Over 751 million shares worth VND12.6 trillion changed hands, up 15% in volume and 4% in value, against the previous session.

In the VN30 basket, 20 stocks gained, with lender CTG closing at its daily upper limit. Many bank stocks were also among major drivers of the main index, with ACB, VCB, MBB and BID jumping by over 3%.

Securities firm VND stood at the floor price, but took the lead by liquidity on bourse with a matching volume of 65.5 million shares, followed by steelmaker HPG with 31 million shares changing hands.

The Hanoi bourse remained negative with 56 winners and 128 losers. The HNX-Index fell 1.48 points, or 0.71%, from the day earlier, at 208.2.

Securities company SHS improved nearly 3% at the close and was the most actively traded stock on bourse with 13.3 million shares changing hands.

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