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Tuesday, July 16, 2024

TDM to auction 10 million shares on HOSE

The Saigon Times

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HCMC – Thu Dau Mot Water JSC has passed a plan to put up for auction 10 million TDM shares on the Hochiminh Stock Exchange (HOSE) this year.

The auction will be conducted after the State Securities Commission issues TDM a certificate for public sale.

The proceeds from the auction will be used to invest in some water suppliers, develop new projects and boost its business and financial activities.

In 2022, TDM aims to pump over 71 million cubic meters of water, up 12% year-on-year, and looks to book VND510 billion in revenue and VND246.7 billion in before-tax profit, down 16% and 27%, respectively, year-on-year, the local media reported.

In the first quarter of 2022, TDM made VND105 billion in revenue, up 13.3% year-on-year, and VND40.9 billion in after-tax profit, down 65.5% against the same period last year.

Closing the trading session today, July 18, TDM gained 1.8%, ending its two-session falling streak.

The benchmark VN-Index of HoSE continued the downtrend, losing 1.76 points, or 0.23%, from the session earlier, at 1,176.49 at the end, with 229 advancers and 209 decliners.

Over 523.7 million shares worth VND11.2 trillion changed hands, down 13% in volume and 14% in value against the previous session.

The groups of bank, securities and steel stocks became the main drags of the index.

The Hanoi Stock Exchange turned positive with 98 gainers and 80 losers. The HNX-Index added 0.24 points, or 0.08%, against the previous session, at 274.63.

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