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Thursday, June 20, 2024

TDM becomes major shareholder of water supplier Cawaco

The Saigon Times

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HCMC – Thu Dau Mot Water JSC (TDM), whose TDM shares are traded on the Hochiminh Stock Exchange, has become a major shareholder of Ca Mau Water Supply JSC (Cawaco).

The former has bought nearly 3.8 million CMW shares of the latter for over VND54.1 billion. TDM now owns 24.39% of Cawaco.

Though TDM’s quarter-one revenue inched down 3.8% year-on-year to VND101 billion, its after-tax profit rocketed 213% year-on-year to over VND128 billion.

The company attributed the strong surge in profit to receiving dividends worth over VND93.8 billion from Binh Duong Water Environment JSC.

This year, the firm looks to increase its revenue by 27% and net profit by 35% over 2022. Last year, it posted VND503.9 billion in revenue and VND220.4 billion in profit after tax.

TDM closed the trading session today, June 12, down 1.56% over last Friday to VND37,900 per share.

With 216 winners and 169 losers, the VN-Index of the Hochiminh Stock Exchange gained 8.49 points, or 0.77%, to 1,107.53 points.

The southern bourse saw more than 902.2 million shares worth over VND16.5 trillion changing hands, contracting 30% in volume and value against the previous session. Around 62.5 million shares transacted in block deals contributed more than VND1.4 trillion to the overall index.

Bluechips VNM, VIC, MSN, SAB, MWG, VCB, and BCM were the main drivers today, with their gains ranging from 2.1% to 3.9%.

Developer NVL was the most traded stock on the southern market, with a matching volume of 29.1 million shares, but it finished the session at the reference price of VND14,600 per share.

Advancers nearly doubled decliners on the northern bourse with a ratio of 130:70, helping the HNX-Index of the Hanoi Stock Exchange add 1.77 points, or 0.78% against the session earlier, to 229.37 points.

There were over 104.8 million shares valued at VND1.7 trillion traded on the northern market.

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