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Sunday, February 5, 2023

VIX Securities acquires 15 million GEX shares

The Saigon Times

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HCMC – VIX Securities JSC has purchased 15 million shares of Gelex Group JSC, which trades its GEX shares on the Hochiminh Stock Exchange, to raise its ownership in the latter to 3.52%.

The securities firm, whose shares are traded on the HCMC exchange under the code VIX, conducted the share acquisitions between December 23, 2022 and January 17, the local media reported.

Nguyen Thi Tuyet, chairwoman of VIX, is the elder sister of Nguyen Van Tuan, a member of Gelex’s board of directors and general director of the electrical equipment manufacturer.

In July last year, VIX bought 15 million GEX shares to hold a 1.76% stake in Gelex.

Dragon Capital bought over 5.1 million GEX shares on November 29 last year to increase its ownership in Gelex to 5.34% from 4.74%, making the former a major shareholder of the latter.

Dragon Capital on December 5 last year got three million more GEX shares to raise its stake in Gelex to 6.03%.

Between January and September last year, Gelex posted VND24.7 trillion in net revenue and VND1.8 trillion in pre-tax profit, up 29% and 25%, year-on-year, respectively.

Closing the trading session today, January 18, GEX continued its upward trend to gain 2.5%, while VIX stood at the reference price.

The good performance of large-cap stocks drove up the VN-Index of the HCMC bourse by 9.99 points, or 0.92%, from the session earlier, at 1,098.28, extending its winning streak to a sixth session. Advancers outnumbered losers by 322 to 105.

Over 604 million shares worth VND10.2 trillion changed hands, down 10.3% in volume and 12.9% in value, from the previous session.

In the VN30 basket, 25 stocks gained, with mobile phone retailer MWG, consumer goods firm MSN and real estate developer VIC making a strong rise.

Steelmaker HPG closed the day up and became the most actively traded stock on bourse with a matching volume of 25.8 million shares.

On the Hanoi exchange, the HNX-Index improved 2.58 points, or 1.2%, from the session earlier, at 217.73, with 108 advancers and 57 decliners.

Many small and medium stocks such as CEO, TIG and IDJ shot up to their ceiling prices, while securities firm SHS finished down, but took the lead by liquidity with 15.8 million shares changing hands.

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