The VN-Index rose by 18.88 points to 1,290.92 points last week, while the HNX-Index also increased by 1.41 points to 235.71 points. Trading volume on the two exchanges reached approximately VND 22,000 billion per session.
Foreign investors net sold over 80.6 million units on the HoSE, with a total net selling value of nearly VND 480 billion. On the HNX, they net bought 3.96 million units, with a total net buying value of over VND 42 billion.
On the UPCoM exchange, foreign investors net sold 2.01 million units, with a total net selling value of over VND 59 billion. Thus, during the trading week from September 23-27, foreign investors net sold 78.66 million units on the overall market, with a total net selling value of over VND 496 billion.
A Rush to Sell
The Vietnam Textile and Apparel Group (Vinatex – stock code: VGT) has approved the plan to divest its capital from Lien Phuong Garment Textile Joint Stock Company.
Accordingly, Vinatex will sell 4.5 million shares, equivalent to 19.11% of the contributed capital of Lien Phuong Garment Textile. The starting price for the competitive offering is VND 12,000 per share.
Vinatex will offer the shares to less than 100 interested investors through a securities company. Based on the starting price, Vinatex will receive a minimum of VND 54 billion from divesting its capital from Lien Phuong Garment Textile.
In 2022, Vinatex also announced plans to divest 4.5 million shares of Lien Phuong Garment Textile with a starting price of VND 19,800 per share, but it was unsuccessful. Now, Vinatex is proceeding with the divestment at an offering price 39% lower than two years ago.
Lien Phuong Garment Textile was established in 1960 and is located at 18 Tang Nhon Phu, Phuoc Long B Ward, Thu Duc City, Ho Chi Minh City. The company owns over 40,000 square meters of workshops within a nearly 80,000-square-meter compound, possessing a closed-loop chain of woolen yarn production lines, from fiber to weaving, dyeing, finishing, and garment manufacturing…
In August, Vinatex also announced the offering of more than 2.81 million shares of Donagamex Joint Stock Company (Donagamex), equivalent to 25.7% of its charter capital, to less than 100 investors at a starting price of VND 35,000 per share. Vinatex expected to receive VND 98 billion after the divestment.
Licogi 13 Joint Stock Company (stock code: LIG) announced the resolution of its Board of Directors on the transfer of LIG’s capital in its subsidiary, Licogi 13 – Infrastructure Machinery Joint Stock Company (Licogi 13 – IMC). Specifically, LIG plans to sell 30% of Licogi 13 – IMC’s capital, equivalent to 996,000 shares, to Mr. Vu Duc Luu at VND 10,000 per share. The total value received after the divestment is nearly VND 10 billion.
Licogi 13 Joint Stock Company intends to sell 30% of Licogi 13 – IMC’s capital.
Currently, LIG holds 62.78% of Licogi 13 – IMC’s capital, equivalent to nearly VND 21 billion. After the divestment, LIG’s ownership in Licogi 13 – IMC will decrease to 32.78%. As of the end of the second quarter, Licogi 13 has six subsidiary companies and three associated companies.
Raising Money from Shareholders
PDV Logistics Joint Stock Company (stock code: PDV) raised more than VND 230 billion from shareholders, increasing its charter capital to nearly VND 661 billion.
Accordingly, at the end of the share offering on September 23, PDV Logistics had offered 23,008,635 registered shares at a price of VND 10,000 per share. After the share offering, PDV Logistics’ charter capital increased from nearly VND 431 billion to nearly VND 661 billion.
Nam Kim Steel Joint Stock Company (stock code: NKG) plans to implement a share offering to existing shareholders at a ratio of 50%, meaning that for every 2 shares owned, shareholders will have the right to buy 1 new share at an offering price of VND 12,000 per share.
With more than 263 million circulating shares, Nam Kim Steel will offer nearly 132 million new shares to raise nearly VND 1,580 billion. The proceeds will be contributed to Nam Kim Phu My Steel Joint Stock Company to invest in the Nam Kim Phu My Steel Sheet and Roofing Project.
The Nam Kim Phu My Steel Sheet and Roofing Project includes a 350,000-ton-per-year zinc-plated steel line, two 300,000-ton-per-year and 150,000-ton-per-year zinc-aluminum alloy-plated steel lines, and a 150,000-ton-per-year color-plated steel line.
Nam Kim Steel Joint Stock Company will offer nearly 132 million shares to raise nearly VND 1,580 billion.
The project is located on Road No. 1, My Xuan B1 – Dai Duong Industrial Park (My Xuan Ward, Phu My Town, Ba Ria – Vung Tau Province) with a total investment capital of VND 4,500 billion.
Mr. Nguyen Xuan Quang, Chairman of the Board of Directors of Nam Long Investment Joint Stock Company (stock code: NLG), registered to sell 2 million shares to reduce ownership to 38.45 million shares, equivalent to 9.99% of the charter capital. The transaction will be executed from September 30 to October 29.
In the opposite direction, Mr. Quang’s two sons registered to buy NLG shares in the same quantity as Mr. Quang’s registered sale. Specifically, from September 25 to October 24, Mr. Nguyen Nam, son of Mr. Nguyen Xuan Quang, registered to buy 1 million NLG shares to increase ownership to 0.44% of the charter capital. From September 26 to October 25, Mr. Nguyen Hiep, son of Mr. Nguyen Xuan Quang, registered to buy 1 million NLG shares to increase ownership to 0.61% of the charter capital.
Previously, from May 22 to 24, Mr. Nguyen Xuan Quang also sold 2 million NLG shares to reduce ownership to 10.51% of the charter capital.
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