SIP to move to HOSE

HCMC – Saigon VRG Investment Corporation will leave the Unlisted Public Company Market, or UPCoM, for the Hochiminh Stock Exchange (HOSE).

On June 29, HOSE approved the listing of over 90.9 million SIP shares of Saigon VRG Investment Corporation for trading on bourse.

Saigon VRG Investment Corporation operates in the field of investment in construction and infrastructure development, primarily serving industrial parks and residential areas for industrial purposes.

It was founded by a group of shareholders in 2007, including Vietnam Rubber Industry Group, Phuoc Hoa Rubber JSC (PHR), Rubber Investment and Construction JSC, and other individuals.

In the first quarter of this year, the firm reported revenue of nearly VND1.4 trillion, up 5.6% against the same period last year. Its profit after tax in the quarter is estimated at VND179.2 trillion, dropping 23.9% year-on-year. However, its profit margin improved from 16.2% to 16.7%.

Closing the trading session today, SIP inched up 0.18% from last Friday to VND113,500 per share.

With 253 winners and 169 losers, the VN-Index of the HOSE added 5.32 points, or 0.47% from the previous session, to 1,125.5 points.

Trade on the southern exchange contracted by 38.4% in volume and 37.7% in value, with around 558.4 million shares valued at nearly VND10.8 trillion changing hands. Block deals contributed over VND1.1 trillion to the overall value, with 50 million shares traded.

Strong demand helped lender SHB take the lead by liquidity on the southern market, with nearly 34.9 million shares being matched, resulting in a 3.6% increase to VND12,950 per share. Housing developer NVL secured the second place with 30.1 million shares transacted.

The northern stock exchange saw 98 advancers and 85 decliners. Its HNX-Index lost 0.72%, or down 0.32%, from the session earlier, to 226.6 points.

There were nearly 75 million shares worth over VND1 trillion transacted on the northern market.

The post SIP to move to HOSE appeared first on The Saigon Times.