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Vinh Hoan Corp. to issue over 3.6 million ESOP shares

The Saigon Times

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HCMC – Vinh Hoan Corporation, whose stock VHC is listed on the Hochiminh Stock Exchange, has announced its plan to issue over 3.6 million shares under an employee share ownership plan (ESOP).

Those shares will be issued at a price of VND10,000 per share, which is 86.3% lower than its trading price of VND73,000 on October 25.

The transactions are expected to be made from October 30 to November 7 this year. The shares will be subject to restricted trading within five years from the date of issuance.

Specifically, 20% of the shares will be eligible for trading after between 12 and 24 months following the transaction, which will increase to 40% after between 36 and 48 months, 60% after between 48 and 60 months, and 80% after between 40 and 60 months.

Regarding the business performance, Vinh Hoan recorded revenue of over VND2.7 trillion in the second quarter of 2023, a decrease of 35.6% compared to the same period last year.

Vinh Hoa’s after-tax profit stood at only VND412.4 billion, plummeting by 47.7% versus the year-ago period. Specifically, its gross profit margin decreased from 25.9% to 20.7%.

Closing the trading session today, October 26, VHC fell by 2.71% day-on-day to VND71,000 per share, with over 1.1 million shares transacted.

With losers vastly outnumbering winners by 505 to 24, the benchmark VN-Index of the Hochiminh Stock Exchange shed 46.21 points, equivalent to 4.19% versus yesterday’s session, at 1,055.45. Notably, 122 among the losers plunged to the floor prices.

A total of 1.17 billion shares worth VND23.2 trillion were transacted today, skyrocketing by 120% in volume and 110% in value against yesterday’s session. There were 47.5 million shares worth more than VND1.04 trillion traded through block deals.

SSI took the lead by liquidity in the southern bourse, with over 54.1 million shares changing hands. Closing the trading session, it plunged by 6.8% to VND28,700 per share.

Following SSI, GAS plummeted by 6.1% to VND75,500, while HPB fell by 5.2% to VND22,800, and VIB declined by 5.2% to VND17,350.

The HNX-Index of the Hanoi Stock Exchange lost 12.03 points, or 5.3%, to 219.98 points, with 20 advancers and 185 decliners, including 37 crashing to the floor prices. The trade volume totaled 175.4 million shares worth more than VND3.13 trillion.

CVN stole the spotlight on the northern exchange as it surged by 6.9% to VND3,100, with a trading volume of 0.87 million units.

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