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TLH to issue over 10.2 million shares to pay dividend

The Saigon Times

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HCMC – Tien Len Steel Group JSC, whose shares are traded on the Hochiminh Stock Exchange under stock code TLH, will issue more than 10.2 million shares to pay the 2021 dividend.

With the stock dividend payment at a ratio of 10%, each shareholder will receive 10 new shares for every 100 shares held, the local media reported.

The firm will start its issue in 45 days after getting the nod from the State Securities Commission.

Between January and September, TLH made over VND3.6 trillion in revenue, up 11.5% year-on-year, and VND121.8 billion in after-tax profit, down 71% year-on-year.

In 2022, the firm targets VND5.5 trillion in revenue and VND300 billion in after-tax profit. As of the end of September, the firm had reached 67% and 40.6% of its full-year revenue and profit targets.

TLH reversed course to lose 2% at the close today, November 22.

The VN-Index of the HCMC bourse continued its downward spiral, dropping 8.58 points, or 0.89%, from the session earlier, at 952.12, with 251 winners and 182 losers. Over 1.05 billion shares worth VND16.7 trillion changed hands, rocketing 75% in volume and 90% in value against the previous session.

Many large-cap stocks fell into negative territory. Consumer goods company MSN and housing developer VHM lost 3.5%.

Several small and medium stocks, including DLG, DXS, HQC, TNT, PSH, YEG and JVC, finished at their upper limits.

Real estate developer NVL plunged to its floor price, but took the lead by liquidity on bourse with over 128 million shares changing hands.

On the Hanoi exchange, the HNX-Index gained 2.26 points, or 1.18%, against the session earlier, at 194.66.

Securities firm SHS closed at the reference price, but reported the highest matching volume on bourse at 19.2 million shares.

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