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Tuesday, July 16, 2024

STK gets nod to issue over 13 million shares

The Saigon Times

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HCMC – The State Securities Commission of Vietnam has allowed Century Synthetic Fiber Corporation (STK) to issue 13.6 million STK shares to its existing shareholders to raise its charter capital.

The synthetic fiber manufacturer will offer the shares at VND10,000 each and for every five shares held, the shareholders can get one. If some shareholders do not buy the new shares, others can take them with a restricted transfer period of one year after the share sale is completed.

The record date is August 5 this year and the ex-dividend date is August 4.

STK is expected to earn VND136.37 billion from the issue, which will be used to increase the capital of its yarn and fiber dyeing business UNITEX.

In late March, the STK board at its 2022 shareholders’ general meeting passed a plan to sell 13.5 million shares worth VND135 billion.

On the Hochiminh Stock Exchange, STK has remained volatile. The stock hit its record high of VND66,400 on April 14 before plunging continually and reaching its bottom price of VND48,100 before bouncing back.

STK closed 3.46% higher at VND50,900 today, July 11.

The benchmark VN-Index of the HCMC exchange lost 16.2 points, or 1.37%, against the previous session at 1,155.29, with 131 stocks rising and 319 others falling. Close to 411 million shares worth over VND9 trillion were transacted on the southern bourse, up over 30% in volume and 26% in value.

Brokerage SSI and fuel distributor PLX were the only two stocks in the VN30 basket that ended in positive territory, with SSI up 1.2% and PLX up 0.4%.

The VN-Index narrowed losses in the afternoon phase, mostly backed by VIC and VHM, the two heavyweights in the Vingroup family. The index’s improvement came after the Ministry of Public Security rejected a social media rumor that the leader of a major Vietnamese corporation and other business executives was banned from leaving Vietnam as they was under investigation.

Vietnam Television (VTV) station reported in an evening news program today that the rumor about the chairman of Vingroup, Pham Nhat Vuong, and other leaders of Vingroup affiliates was baseless.

Property developer VIC and its affiliate VHM reversed course and made smaller losses than they did in the morning phase.

On the northern bourse, the HNX-Index shed 0.87 points, or 0.31% over the session earlier at 276.93, with 38 advancers and 116 decliners.

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