Thaiholdings' headquarters in Hoan Kiem District, Ha Noi. — Photo www.thaiholdings.com.vn

In a statement, Thaiholdings Joint Stock Company (THD) said that the company successfully finished the sale of 296.1 million shares for its existing shareholders. After the sale, Thaiholdings's capital rose to VND3.5 trillion from VND539 billion.

The company used most of the money from mobilisation to buy 81.6 per cent of Thaigroup shares, according to its fourth quarter result. The merger and acquisition (M&A) deal helps Thaiholdings post greater results in the fourth quarter.

During the period, its profit after tax was over VND1.02 trillion, 67 times higher than that of 2019. In 2020, the company's profit after tax reached VND1.09 trillion, nearly 23 times higher than that of 2019.

After the M&A deal, Thaiholdings' share price surged. Last week, THD share price ended Friday at VND172,000 which helps Thaiholdings become the company with the biggest market capitalisation on the Ha Noi Stock Exchange. This also helps Nguyen Duc Thuy, chairman of the board of Thaiholdings, become one of top 10 richest people on Viet Nam's stock market.

On Tuesday, the THD share price edged higher despite a strong decrease of the general market. THD shares traded at VND160,000, up 0.63 per cent while the northern benchmark HNX-Index declined by 1.74 per cent to end Tuesday at 227.82 points. The VN-Index also went down by 2.57 per cent to 1,136.12 points.

Recently, Thaiholdings has officially cooperated with Samsung Group through a technical service agreement of Hotel Shilla to build a luxury complex on the site of Kim Lien Hotel. — VNS