GELEX's headquarters in Hai Bà Trưng District, Hà Nội. — gelex.vn

The GELEX Group has become a major shareholder of Eximbank after acquiring an additional 89 million of the lender's shares (EIB) over the course of two trading days.

Data showed that on August 7, GELEX purchased 50 million EIB shares and on August 8 it acquired another 39 million shares. These transactions were carried out on the Hồ Chí Minh Stock Exchange (HoSE).

With the completion of these purchases, GELEX's ownership stake in Eximbank has increased from 85.5 million shares, or 4.9 per cent of the bank's charter capital, to 174.6 million shares, which is equivalent to 10 per cent of Eximbank's total capital.

As a result, GELEX has now become the largest shareholder of Eximbank.

GELEX has adopted a holding company structure, with ownership of several well-known brands including Vigalcera, Vietnam Electric Cable Corporation (CADIVI), Electronical Equipment (THIBIDI) and others.

The company is also aggressively pursuing an ecosystem development strategy, forging partnerships with multinational firms such as Sembcorp and Frasers Property Vietnam.

The purpose of these ecosystem-building efforts is to expand and upgrade GELEX's product range, focusing on higher value-added segments within its core business areas and boosting the company's export capabilities.

By leveraging its diverse brand portfolio and strategic partnerships, GELEX is aiming to strengthen its overall market position and drive growth in both domestic and international markets.

In the first seven months of 2024, the company posted consolidated revenue of over VNĐ18.5 trillion, equivalent to 57 per cent of its yearly plan. Consolidated profit before tax reached nearly VNĐ2 trillion, surpassing 103 per cent of its annual target. — VNS