HCMC – Viettel Post Joint Stock Corporation (HOSE: VTP) has announced plans to establish a logistics and trading company in China, marking the Vietnamese postal service firm’s latest move to expand abroad.
The new subsidiary, Viettel Post Logistics and Trading Company, will be based in Guangxi. The company will be funded entirely through Viettel Post’s equity, with total capital of nearly VND34 billion.
The subsidiary will focus on international and domestic delivery, warehousing, customs services, fulfillment operations, and e-commerce logistics, the company said. Viettel Post already operates two subsidiaries abroad, in Cambodia and Myanmar.
The announcement comes as Viettel Post seeks to strengthen its international presence and diversify its logistics services portfolio.
This positive news sent the company’s VTP shares to a new high of VND162,300 each on January 17, up 1.69% over the previous session.
The VN-Index rose 6.75 points, or 0.54%, to 1,249.11 points on Friday, driven by gains in bank and technology stocks. The session saw 272 winners and 123 losers.
Trading volume and value dropped 13.4% and 22.8% over the session earlier, respectively, with nearly 433 million shares worth VND10.28 trillion changing hands. Block deals contributed 75.8 million shares valued at VND2.05 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, gained more than 10 points to 1,313.48 points with 20 advancers and seven decliners. Beer producer SAB was the biggest decliner, falling 1.1% to VND53,400 per share.
Bank stocks performed well. HDB rose 3.7% to VND22,500, and TCB advanced 2.3% to VND24,400. Other gainers included BVH, up 2%, and FPT, up 1.7%. Steelmaker HPG took the lead by liquidity with trade volume of 13.95 million shares.
The HNX-Index increased 1.63 points, or 0.74%, to 222.48 points, with 94 gainers and 60 decliners. Trade volume totaled 39.9 million shares worth a combined VND610.4 billion.
