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Sunday, February 5, 2023

VNG Corporation has new chair

The Saigon Times

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HCMC – VNG Corporation has announced Vo Sy Nhan is its new board chairman, with effect from January 1 this year, replacing Le Hong Minh who was earlier removed from the post.

Vo Sy Nhan is among four independent board members being appointed at VNG’s 2022 extraordinary general meeting. Nhan serves as CEO at Empire City, co-founder of GAW NP Capital, and vice chairman at Tien Phuoc Company.

VNG yesterday, January 10, also announced its plan to offload over 7.1 million treasury shares at VND177,881 each. This means the company would fetch some VND1.26 trillion from the plan.

VNG debuted its VNZ shares on the Unlisted Public Company Market on January 5 this year with the starting price of VND240,000 per share, but no transactions have been conducted until now.

In related news, the benchmark VN-Index of the Hochiminh Stock Exchange added 2.41 points, or 0.23% over the session earlier at 1,055.76 today, with advancers outnumbering decliners by 249 to 137.

Trade on the HCMC bourse remained unchanged by volume but fell 8% by value day on day, at around 543 million shares worth over VND8.7 trillion. Share transactions in block deals accounted for VND612 billion of the total value.

Property developer NVL closed at its upper limit and was the most actively traded stock on the southern exchange, with 27.7 million shares changing hands. Other stocks in the real estate sector such as VIC, VHM, DXG and PDR ended in positive territory.

Only one stock in the securities group tumbled. Among the gainers, VND was the most traded stock by volume, with 23.7 million shares changing hands.

Similarly, the group of steel stocks saw only one loser, while NKG was the biggest winner as it soared nearly 3%. HPG also rose 2% and ranked second by liquidity on the southern bourse, with a matching volume of 25.7 million shares.

Bank stocks, however, came under pressure from strong selling. ACB made the biggest gain in the group, up 3.2%, followed by CTG with a 1.9% rise. Other winners inched up around 1%. Meanwhile, EIB plunged 6.8% and VCB, the largest stock by market cap, declined 2.5% to VND85,100.

On the Hanoi exchange, the HNX-Index gained 1.04 points, or 0.49%, versus the previous session at 211.67, with 86 winners and 60 losers.

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