In a volatile session on Monday, UPCoM-listed stock CTX of Vietnam Investment, Construction, and Commerce Joint Stock Corporation surged 15% to reach the ceiling price of 18,400 VND per share. This was the second consecutive session of sharp gains for this stock.
Figure 1: Stock Price Movement of CTX on May 19, 2025
Vietnam Investment, Construction, and Commerce Joint Stock Corporation, formerly known as Vietnam Investment and Export Construction Corporation, has a charter capital of over 789 billion VND. The company operates in real estate investment and trading, construction, hospitality, and office leasing. CTX was delisted from HNX in late November 2023 and readmitted to UPCoM on December 26, 2023, only to be temporarily suspended shortly after.
After resolving compliance issues, CTX resumed trading on UPCoM on April 15, 2025, and has since witnessed a remarkable rally. Over the past month, CTX has recorded five sessions of reaching the upper limit, with the share price soaring by 140% from 7,600 VND to a record high.
Notably, on April 17, a massive block trade of 11.8 million CTX shares worth nearly 91 billion VND was executed at an average price of 7,700 VND per share, approximately 25% lower than the closing price of that day.
Subsequent disclosures revealed that Ms. Nguyen Thi Kim Xuan sold 11.8 million CTX shares, reducing her ownership from 24.47% to 9.52% (7.5 million shares). The buyer, AMAI Investment Company Limited, became a major shareholder, holding 11.8 million shares or 14.95% of the capital. Based on the market price, AMAI temporarily profited over 126 billion VND within about a month of becoming a major shareholder of CTX.
AMAI Investment Company Limited was established on March 7, 2025, just over a month before it became a major shareholder of CTX. The company is headquartered at HH2, Duong Dinh Nghe Street, Yen Hoa Ward, Cau Giay District, Hanoi, which is also the address of CTX’s headquarters. Its primary business activity is real estate trading and leasing of land use rights.
Regarding CTX’s business performance, in 2024, the company’s net revenue reached nearly VND 161 billion, while profit after tax decreased to VND 11.3 billion, representing a decrease of 52% and 68%, respectively, compared to the previous year.
