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Wednesday, May 31, 2023

Savico issues 33 million more shares

The Saigon Times

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HCMC – Saigon General Service Corporation (Savico), whose SVC shares are traded on the Hochiminh Stock Exchange (HOSE), has issued more than 33.3 million shares, equivalent to the number of its outstanding shares.

HOSE on February 10 announced changes to the number of listed shares of Savico, saying the latest share issue has raised the total amount of SVC shares to 66.63 million, equal to over VND666.3 billion in charter capital. The changes took effect the same day.

In reality, Savico completed the share issue on December 29 last year. The new shares were issued to 922 shareholders at a 1:1 ratio.

Savico is a major auto distributor with its showrooms across the country. The company distributes a wide range of auto brands such as Toyota, Ford, Honda, Hyundai, and Volvo.

Last year, Savico booked VND21.5 trillion in net revenue and VN329 billion in net profit, soaring 51% and 126% year-on-year, respectively.

At the close of the trading session today, February 13, SVC inched up 0.21% over last Friday at VND48,500.

The benchmark VN-Index of HOSE shed 11.6 points, or 1.1%, over the session earlier at 1,043.7, with decliners outnumbering advancers by 367 to 71.

Trade on the southern bourse improved nearly 47% in volume and 28% in value against the previous session at more than 681 million shares and around VND10.4 trillion, including some VND1.5 trillion worth of shares traded in block deals.

On the Hanoi exchange, the HNX-Index lost 4.01 points, or 1.92%, compared to last Friday at 204.49, with 49 stocks rising and 140 others falling.

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