HAIAN ALFA ship of HAH. Photo: Hai An.
Vietnam Container Corporation (Viconship, MCK: VSC) has just reported that it has successfully purchased more than 1.24 million shares of Hai An Transport and Stevedoring Corporation (MCK: HAH).
After the transaction, Viconship increased its ownership in HAH to nearly 7 million shares, equivalent to 6.63%. The transaction date that changed the ownership ratio was April 19.
Previously, at the end of January, Viconship purchased more than 2.15 million HAH shares to increase its ownership from 3,128,000 shares (2.96% of charter capital) to 5,278,500 shares (5% of charter capital), thereby officially becoming a major shareholder of HAH.
Closing the trading session on April 19, HAH shares stopped at VND 38,050 / share, it is estimated that Viconship spent about VND 47 billion to complete the above transaction.
Regarding the situation at HAH, on April 26, the company will hold an annual General Meeting of Shareholders to approve this year’s plan with a revenue target of VND 3,502 billion, up 34% compared to 2023; however, the after-tax profit of the parent company’s shareholders decreased by 11% to VND 340 billion. The dividend payout ratio is expected to be 10% in cash and 10% in shares.
Regarding the fleet investment activities, HAH continues to implement the investment project and receive 2 new 1,800 TEU ships (Bangkok Mark IV), as well as continue to purchase old ships to meet the demand for use. As for ports and logistics, HAH continues to implement the investment project for the port, Depot in Cai Mep area with an estimated value of VND 300 billion, while seeking opportunities to invest in infrastructure for logistics services in other areas such as the Central region and the Mekong Delta.
In 2023, Hai An took delivery of the first newly built 1,800 TEU container ship at the Hoang Hai Shipyard in China, named HAIAN ALFA, this is the first of four new ships that the Company signed with Huanghai Shipbuilding.
Based on the business results in 2023, the Board of Directors proposed a dividend payment of 15% in shares in 2023, expected to be implemented in 2024 after approval by the State Securities Commission (SSC).
With over 105.5 million shares outstanding, HAH plans to issue over 15.83 million new shares, all of which are not restricted from transfer. If the plan is completed on schedule, HAH’s charter capital will increase by more than VND 1,213 billion. The capital for the issuance will be taken from the retained earnings after tax on the audited financial statements for 2023, corresponding to nearly VND 751 billion.
