Vinaconex to end HNX-listing, move shares to HoSE

Monday, Dec 21, 2020 06:51

The Thang Long Highway project, in which Vinaconex is the prime contractor. — Photo

Viet Nam Construction and Import-Export Corporation (Vinaconex) will de-list nearly 442 million shares from the Ha Noi Stock Exchange (HNX).

The company will cancel its listing on December 22. The last trading day for its shares will be December 21.

After cancelling the HNX listing, Vinaconex will list its shares on the Ho Chi Minh Stock Exchange.

The company’s shares, listed with code VCG, rose 0.7 per cent to finish Friday at VND43,800 (US$1.89) apiece.

In the third quarter, Vinaconex posted a robust gain in post-tax profit, which was more than VND1.03 trillion ($44.86 million) by offloading its ownership in some property projects.

The figure helped boost the firm’s nine-month post-tax profit by 57 per cent on-year to VND1.45 trillion.

Revenue in the third quarter dropped nearly 45 per cent on-year to VND1.27 trillion and fell nearly two-fifths on-year to VND3.8 trillion in nine months.

Vinaconex has recently bought back 39.3 million shares, worth VND1.6 trillion. The capital was taken from its undistributed profit.

In addition, two major shareholders have quit the company. Cuong Vu Real Estate Co Ltd sold its 94 million shares, equal to a 21.28 per cent stake, and Start Invest Co Ltd sold its 33.44 million shares, equal to a 7.57 per cent stake.

The deals were executed on August 14.

Since the two major shareholders exited the company, Vinaconex shares have gained substantially by a total of 82.5 per cent. — VNS

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