HCMC – Tasco JSC, which trades its HUT shares on the Hanoi Stock Exchange, has received approval from the State Securities Commission of Vietnam to issue shares via private placement in order to swap shares with SVC Holdings JSC.
The share swap will result in SVC Holdings becoming a wholly-owned subsidiary under Tasco. This move is part of Tasco’s broader vision to establish an integrated business model offering end-to-end auto services.
The Tasco Board of Directors envisions a comprehensive approach to meet customers’ diverse needs, expanding its services beyond vehicle sales and maintenance to include insurance, financing, auto trade-ins, and payment of road maintenance fees.
HUT shares inched down 3.73% at the close today, August 29, after three consecutive rising sessions, to VND25,800 per share, with a trading volume of nearly 7.8 million shares.
With 281 winners and 203 losers, the VN-Index of the Hochiminh Stock Exchange showed a marginal rise of 2.71 points, or 0.23% over the previous session, to close at 1,204.43 points.
Trading volume on the southern bourse reached over 990.9 million units worth around VND22 trillion, up 12% in volume and 11% in value compared to the session earlier. Block deals contributed nearly VND2 trillion to the overall value, with more than 86.6 shares traded.
The VN30 basket, comprising the 30 largest-cap stocks, saw 13 tickers advancing and 14 others dipping. The VN30-Index added 2.07 points to 1,215.47 points.
VCB emerged as a key driver, contributing two positive points to the benchmark index with a 1.6% increase, reaching VND88,400 per share. Other bluechips that gained ground included BCM, VPB, MWG and GVR, with increases ranging from 2.2% to 2.7%.
In contrast, VIC became a major drag as it slipped 2% to VND63,400 per share. Its related stock, VRE, also decreased 1.7% to VND29,250.
Other stocks such as SSI, PLX, VJC, VNM, HDB, POW and MSN made marginal losses of 0.2% to 0.9%. Lenders ACB, TPB and VIB stayed at their reference prices.
Housing developer NVL took the lead by liquidity on the southern market with nearly 40.4 million shares changing hands, up 1.8% to VND20,350 per share.
On the Hanoi Stock Exchange, the HNX-Index rose 1.59 points, up 0.65% day-on-day, to close at 246.48 points, with 108 gainers and 81 decliners.
There were 104 million shares worth over VND2 trillion traded on the northern market.