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Viettel Post makes strong HOSE debut

The Saigon Times

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HCMC – Viettel Post Joint Stock Corporation (Viettel Post) debuted its VTP shares on the Hochiminh Stock Exchange today, March 12, with its shares hitting the daily upper ceiling of VND78,400 at the close.

Viettel Post’s reference price was set at VND65,400, with a trading band of 20%, allowing the price to fluctuate up to 20% above or below the reference price.

The market saw 722,400 VTP shares changing hands, but there remained buy orders for an additional 1.6 million shares at the ceiling price unmet at the close.

Viettel Post is a member of the military-run Viettel Group and operates a logistics ecosystem offering services such as express delivery, supply chain management, and cross-border e-commerce.

As for its business performance, the company booked more than VND5.1 trillion in revenue, a 3% year-on-year fall, and VND104 billion in net profit in the fourth quarter of 2023.

Its full-year revenue rose by 29% year-on-year to around VND19.6 trillion, the highest in five years. The firm’s after-tax profit surged by 48% versus 2022 to VND380 billion.

Viettel Post looks to obtain over VND13.8 trillion in revenue and VND384 billion in net profit this year, with plans to intensify its “Go Global” strategy. The firm said it would focus on expanding the operations of its subsidiaries in Myanmar and Cambodia.

It will explore investment opportunities in Laos and intends to open representative offices in Thailand and China.

In related stock news, the Hochiminh Stock Exchange saw 260 winners and 200 losers, resulting in the VN-Index gaining 9.51 points, or 0.77%, to reach 1,245 points.

Trading volume and value decreased by 14% and 13% compared to the previous session, respectively. More than 836.2 million shares worth VND20.7 trillion changed hands, including about VND954.5 billion worth of shares traded in block deals.

BID and GVR were the top performers. BID edged up by 2.97% to VND52,000 per share and recorded a matching volume of 1.2 million shares, while GVR shot up to its daily upper limit of VND31,600 per share, with a trading volume of nearly 9.5 million shares. They each contributed over 2.1 points to the benchmark index.

Other drivers included VRE, TCB, FPT and MSN, with gains ranging from 1.6% to 3%.

Securities stock VIX took the lead by liquidity on the southern exchange, with a trading volume of more than 34.3 million shares.

With 86 stocks rising and 69 others ebbing, the HNX-Index of the Hanoi Stock Exchange also saw a modest uptick of 0.19 points, or 0.08%, to close at 234.03 points.

Total trading volume on the northern exchange was 75.6 million shares valued at nearly VND1.6 trillion.

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