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Vingroup merges two subsidiaries into smartphone and AI concern

The Saigon Times

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HCMC – Vingroup JSC (VIC) has announced a restructuring plan in which two of its subsidiaries will be merged into a smartphone and AI concern.

Resolution No. 08/2024 was adopted by Vingroup’s board of directors on April 22 to merge Ngoc Viet Commerce and Trading JSC and VSN Commerce and Trading JSC into Vinsmart Research and Manufacture JSC.

Representatives from these subsidiaries have been entrusted with overseeing and executing the merger process, ensuring adherence to the relevant regulations.

Closing the trading session today, April 25, VIC inched up by 0.96% to VND42,000 per share, with more than 1.5 million shares changing hands.

The Hochiminh Stock Exchange saw 166 stocks advancing and 293 others dipping. The VN-Index moved sideways as it slipped 0.64 point, or 0.05%, to 1,204.97 points.

Stock trade plunged by 30% in volume and 29% in value over the session earlier, with 569.6 million shares worth nearly VND14.2 trillion, including more than 80.5 million valued at VND2 trillion transacted in put-through deals.

The VN30 basket, comprising the 30 largest cap stocks, continued to exhibit strong divergence, with 11 advancers and 16 decliners. The VN30-Index added 1.55 points, or 0.13%, to 1,233.72 points.

FPT, MWG and VCB contributed the most to the main index with respective increases of 2.58%, 2.87%, and 0.44%. MWG was the most actively traded stock on the southern bourse with more than 19.3 million shares changing hands.

On the other hand, three lenders, including TCB, BID and MBB, negatively affected the benchmark index, collectively taking off 1.65 points from the VN-Index with respective decreases of 1.81%, 0.8% and 1.33%.

The Hanoi Stock Exchange concluded the session on a low note with 52 winners and 105 losers. The HNX-Index lost 0.3 point, or 0.13%, to 227.57 points, with a trading volume of over 55 million shares worth VND1.06 trillion.

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