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Sunday, September 25, 2022

Tan Phu Vietnam to issue 15 million shares

The Saigon Times

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HCMC – Tan Phu Vietnam JSC (TPP) will issue 15 million TPP shares at VND10,000 each to raise capital, with the record date set on August 19.

The time allowed to transfer the call option will start from August 25 to September 12 this year, with each option allowed to be transferred once only.

Shareholders can register and make payments to buy the shares between August 25 and September 16.

The company is expected to earn VND150 billion from the issue, which will be used to increase its working capital and service bank loans.

Established in August 1997, Tan Phu Vietnam was converted into a joint stock company in 2005 and listed its TPP shares on the Hanoi Stock Exchange in July 2008.

With its charter capital of VND300 billion, the company specializes in manufacturing and trading plastic products, packaging, and plastic accessories to serve multiple fields.

The firm in the second quarter of the year posted VND535 billion in revenue, declining over 36% year-on-year. Its after-tax profit rose fourfold against the year-ago figure to VND5.74 billion.

In the first half of the year, Tan Phu saw its revenue improving nearly 27% over the same period last year, at VND845.6 billion. Its after-tax profit increased three-fold year on year to VND9.3 billion.

As of June, 2022, its total assets stood at VND1.559 trillion, rising 25.32% against the beginning of the year. In addition, its debts surged 33.3% at over VND1.22 trillion, with short-term debts accounting for nearly 85%.

Closing the trading session today, August 12, TPP ended in positive territory, up 1.88% at VND11,500.

On the HCMC market, the benchmark VN-Index added 10.26 points, or 0.82% against the previous session, at 1,262.33, with 273 advancers and 166 decliners. Trade on the southern bourse contracted over 33% in volume and over 30% in value versus yesterday at over 542 million shares and around VND13 trillion.

Steel and securities stocks were the major contributors to the main index’s gain, with many of them extending rally and closing at their upper limits.

On the Hanoi market, the active contribution of bluechips drove up the HNX-Index which closed at its intraday high. The index gained 3.24 points, or 1.08% over the session earlier at 303.42, with 116 winners and 66 losers.

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