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Sunday, February 5, 2023

Transimex to issue nearly 16 million bonus shares

The Saigon Times

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HCMC – Transimex Corporation, which trades its TMS shares on the Hochiminh Stock Exchange, will issue more than 15.8 million bonus shares to raise its charter capital by nearly VND159 billion.

The board of Transimex has passed a decision adjusting the order to implement share issuance plans, with the bonus share issuance being conducted first, followed by the issuance of convertible bonds and then the issuance of shares to pay a dividend to existing shareholders.

The bonus shares will be issued in the proportion of 15%. This means each shareholder will receive 15 new shares for every 100 shares held. The share issue will take place between the final quarter of 2022 and the first quarter of 2023, after it is approved by the State Securities Commission of Vietnam.

Once the share issue is done, Transimex’s charter capital would increase from some VND1,059 billion to almost VND1,218 billion.

Regarding its business performance in the year to September, Transimex had obtained close to VND2,900 billion in net revenue and more than VND553 billion in after-tax profit, down some 28% and 48% against the same period last year.

The company initially targeted VND3,455 billion in net revenue and VND432 billion in after-tax profit in 2022, falling 46% and 30% compared to the year-ago figure.

Closing the trading session today, December 27, TMS inched up 1.02% to reach VND59,600, in line with the market’s rally.

With advancers outnumbering decliners by 331 to 86, the benchmark VN-Index gained 19.36 points, or 1.97% against the previous session at 1,004.57.

Trade on the southern bourse improved over 9% in volume and 5% in value versus Monday at more than 593 million shares and over VND9.5 trillion, including some VND1.9 trillion worth of shares traded in block deals.

Bluechips in the VN30 basket were the major contributors of the main index’ gain. Among them, property developer KDH, State-run rubber group GVR, steelmaker HPG, and brokerage SSI made an outstanding performance as they soared to their upper limits. Other stocks in the basket extended gains, such as retailer VRE soaring 5.1%, property firm PDR rising 3.7%, and mobile phone retailer MWG up 2.8%.

Lots of bank stocks bounced back, with VPB, VIB and BID inching up over 3% and MBB and STB up 2.7% each.

Most of steel and securities stocks ended on an upbeat note as well, in addition to many speculative stocks.

Electrical equipment company GEX, which reversed course to end 1.6% higher, led the southern bourse by liquidity with 29.26 million shares changing hands.

On the northern bourse, the HNX-Index added 4.64 points, or 2.34% against yesterday to close at its intraday high of 203.14, with 132 winners and 51 losers. Securities stocks on the Hanoi market also made gains, with SHS, APS and MBS closing at their ceiling prices.

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