This morning, August 14, 2024, the Ho Chi Minh City Stock Exchange (HoSE) held a listing ceremony, officially introducing 300 million GEE shares of GELEX Electric Joint Stock Company to the exchange.
During its debut session, the 300 million GEE shares had a reference price of VND 37,150 per share (average reference price of the last 30 sessions before delisting on the UpCom), equivalent to a market capitalization of VND 11,145 billion. The price fluctuation band was +/-20%.
Previously, July 18 was the last trading day of GEE on the UpCom system, with a closing price of VND 43,000 per share.
Speaking at the event, Mr. Nguyen Trong Trung, CEO of GELEX Electric, said: “Currently, there are about 400 listed companies on HoSE, including more than 20 stocks of enterprises in the electricity industry, mainly consisting of thermal power and hydropower groups instead of a manufacturing and trading company. complete electrical equipment supply chain like GEE. Therefore, in addition to bringing practical values from the ecosystem of safe products for users and environmentally friendly, today, GELEX Electric is proud to bring to HOSE a new product, GEE stock code – from an industrial manufacturing enterprise.”
Mr. Nguyen Trong Trung, CEO of GELEX Electric, speaks at the ceremony
Mr. Trung said: “The listing opens up opportunities for us to seek domestic and foreign partners with strong financial and especially technological capabilities to gather enough resources in the process of transforming into a high-tech industrial company.”
The leadership of GELEX Electric also committed to transparency in information disclosure and pledged to fulfill the obligations of a listed company during its operation.
GELEX Electric’s booth at the ETE Exhibition in 2024
Established in August 2016, GELEX Electric manages the electrical equipment business of the GELEX Group, with 8 subsidiaries, manufacturing and supplying a full range of products in the electricity value chain from transmission to distribution and household. Among them, many brands have a long history of credibility and hold the number 1 market share in Vietnam, such as CADIVI electrical wires and cables, THIBIDI transformers, and EMIC electrical measuring equipment.
Currently, GELEX Electric is orienting its member units to boost the production of electrical equipment with high intellectual content and environmental friendliness to serve the smart power grid; and orienting cooperation in research and development of new high-tech products such as fire protection products, security equipment, and surveillance systems.
In terms of business results, according to the recently published consolidated financial statements for the second quarter and the first half of the year, GELEX Electric’s consolidated net revenue for the first six months reached VND 9,030 billion, up 24.2% over the same period; and its pre-tax profit reached VND 821 billion, up 225.5% over the same period. These positive results were achieved thanks to flexible sales policies and good control of inventory in the context of volatile prices of raw materials.
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