Sai Gon Ground Services JSC (SAGS) will cancel trading of its 24 million shares on the Unlisted Public Company Market (UPCoM) on July 23, according to the Ha Noi Stock Exchange.

SAGS will move to the HCM Stock Exchange (HOSE) after its UPCoM cancellation as the company has gained approval from the HOSE to list its shares on the southern exchange.

HOSE’s decision was made on July 4. SAGS trades on the UPCoM under the code SGN and fell 3.6 per cent on Monday to VND142,000 (US$6.31).

As of April 27, the company’s largest shareholder was the Airports Corporation of Viet Nam (ACV) with a 48 per cent stake. Saigon Securities Inc (SSI) has a nearly 15 per cent stake.

In the first quarter of 2018, SAGS recorded VND318 billion ($14.1 million) in combined revenue, an increase of 20 per cent on-year, and its post-tax profit jumped 40 per cent to VND84.8 billion. — VNS