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Vinasinco is no longer subsidiary of VCG

The Saigon Times

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HCMC – Vietnam Construction and Import-Export Joint Stock Corporation (VCG) has lowered its stake in Vietnam Urban Services and Investment JSC (Vinasinco) to 25% by selling two million shares.

After the share sale on May 13, Vinasinco is no longer subsidiary of VCG, the local media reported.

As of March 31, VCG held a 75% stake at Vinasinco, which specializes in providing house sanitizing services.

In the first quarter of 2022, VCG obtained VND1.33 trillion in revenue, up 40% year-on-year, and VND779 billion in after-tax profit, up 126%.

This year, the real estate developer targets revenue of VND15.3 trillion and after-tax profit of VND1.4 trillion, skyrocketing 143% and 169% against 2021.

On the Hochiminh Stock Exchange, VCG ended the trading session today, May 16, down 0.21%, marking the third straight trading day of losses.

Heavy selling of many bluechips dragged the VN-Index of the HCMC bourse down 10.82 points, or 0.91%, from the previous session, at 1,171.95, with 232 gainers and 224 losers.

Trade volume totaled 584.4 million shares while trade value amounted to VND14.6 trillion, both down 28%.

The VN30 basket saw 11 stocks losing, with consumer goods company MSN and lender STB closing at their daily floor prices.

The Hanoi Stock Exchange turned positive with winners outnumbering losers by 148 to 71. The HNX-Index advanced 4.66 points, or 1.54%, from the session earlier, at 307.05, supported by the good performance of many large-cap stocks.

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