Vietnam Electric Cable (Cadivi, HoSE: CAV) will transfer 57.6 million CAV shares from Ho Chi Minh City Stock Exchange (HoSE) to Hanoi Stock Exchange (HNX). The last trading date is May 14.
Currently, CAV is trading around the price of 60,000 dong / share, the average matched volume in 10 sessions is about 1,100 shares.
Electrical Equipment (Thibidi, HoSE: THI) also submitted a plan to temporarily transfer stocks to HNX in about 3 to 4 months. The last transaction registration date at HoSE is May 19, to HNX from May 26.
THI is currently trading around the price range of 27,700 VND / share, equivalent to a market capitalization of more than 1,200 billion VND. Average 10-day liquidity was approximately 1,200 shares.
The purpose of exchange exchange of both companies is to support the congestion situation of the HoSE system.
Before Cadivi and Thibidi, some other enterprises also moved listings to support the system such as VNDirect (HNX:VND), Tri Viet Securities (HNX:TVB), PAN Group (HNX:PAN) and 7 member companies.
Regarding business results in the first quarter, Cadivi recorded about 2,487 billion VND in revenue, up 19% over the same period, completing 25% of the year plan. The company’s pre-tax profit was VND 70 billion, down 32%, fulfilling 14% of the year target. The company pays 50% of its dividend in cash in 2021.
Thibidi increased its net revenue by 2% to VND 428 billion in the first quarter, fulfilling 15% of the year plan. The company’s pre-tax profit was 28.5 billion dong, up 185% over the same period last year, reaching 14% of the year target. The company plans to pay dividends in 2021 in cash at the rate of 10%.
Cadivi and Thibidi are both subsidiaries of Vietnam Electrical Equipment Corporation (Gelex, HoSE: GEX). In which, Gelex owns 95.82% of Cadivi and 89.69%. In the first quarter, Gelex posted a 26% increase in net sales to VND 4,413 billion, mainly due to strong growth in the electrical equipment segment. Net profit increased by 366% to reach VND254 billion thanks to a sharp increase in securities and related interest.
Source: ndh.vn – Translated by fintel.vn