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Monday, September 25, 2023

VCG to sell stake in VCM

The Saigon Times

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HCMC – Vietnam Construction and Import-Export JSC, which trades its VCG shares on the Hochiminh Stock Exchange, has announced it will offload all of its shares in an affiliated company.

The company has registered to sell over 1.3 million VCM shares in Vinaconex Trading & Manpower JSC listed on the Hanoi Stock Exchange from June 21 to July 19, thus offloading all its 44.2% stake in the latter.

At the close today, June 20, VCM is traded at VND29,100 per share. At this price, the company will earn about VND38.6 billion from its divestment.

VCG, meanwhile, inched up 3.94% to VND21,100 per share and reported a matching volume of over 10 million shares.

On the southern bourse, the VN-Index added 6.32 points, or 0.57% from yesterday’s session, to 1,111.72 points, with 298 winners and 127 losers.

Trade volume and value contracted by 14% and 5% day-on-day to 695.6 million shares and VND13.6 trillion. Block deals contributed nearly VND2.4 trillion to the overall value, with 102.5 million shares changing hands.

Construction and real estate stocks were the main drivers today, as many of them, including CII, EVG, HHV, LDG, NTL, NHA and ITC, shot up to their daily upper limits with a high trading volume, while many others gained over 3%.

Many bluechips advanced, helping the VN30-Index increase 5.33 points to 1,104.27 points. In the VN30 basket, 21 advancers contributed over six positive points to the benchmark VN-Index.

Brokerage VND took the lead by liquidity on the southern market with more than 29.6 million shares matched, followed by developer DXG with nearly 26 million shares traded.

The number of gainers doubled that of losers at 119 to 56 on the Hanoi Stock Market. The HNX-Index rose 2.25 points to 228.77 points, up 1% over the previous session.

Trade on the Hanoi bourse amounted to VND1.2 trillion, with 77 million shares changing hands.

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