Dong A Steel Joint Stock Company (stock code: GDA) has announced a board resolution approving the transfer of its stock trading from the Unlisted Public Company Market (UPCoM) to the Ho Chi Minh City Stock Exchange (HoSE).
According to the resolution, the Board of Directors authorizes the Chairman or CEO to select a listing advisor, determine the final registration date for shareholder lists, and handle all procedures for delisting from UPCoM and registering on HoSE.
Dong A Steel will choose an appropriate time to submit its listing application, while reviewing and adjusting its plan to comply with legal regulations, ensuring a smooth and timely transition as approved by the shareholders’ meeting.
Previously, Dong A Steel listed its shares on UPCoM in September 2023. After nearly two years of trading, the company has reignited its goal of listing on HoSE.
On the stock market, contrary to the overall upward trend, GDA shares have dropped nearly 12% since the beginning of the year to VND 17,600 per share. Dong A Steel’s market capitalization stands at approximately VND 2.6 trillion.
Founded in 1998, Dong A Steel specializes in manufacturing and trading galvanized steel sheets (zinc-coated steel), aluminum-zinc alloy-coated steel sheets (cold-rolled steel), color-coated galvanized steel sheets, color-coated black steel sheets, and color-coated aluminum-zinc alloy steel sheets.
With an annual capacity of 800,000 tons, the company competes with Hoa Sen Group and Thép Nam Kim in Vietnam’s coated steel market. Dong A Steel is currently developing the Phu My Coated Steel Plant project, with an investment of VND 7 trillion and a designed capacity of 1.2 million tons per year.
In the first six months of the year, Dong A Steel reported net revenue of VND 8,233 billion and after-tax profit of VND 150 billion, down 18% and 44% year-on-year, respectively. These results represent 46% of the annual revenue target (VND 18 trillion) and 50% of the profit goal (VND 300 billion).
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