Vietnam’s Stocks: Vincom, Vietnam Sea Transport, Vietcombank
Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.
The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, declined for a fifth consecutive day, sliding 2 percent to 454.91, the lowest level since April 19.
Vincom Joint-Stock Co. (VIC VN), Vietnam’s biggest listed property company, slid for a fourth day, slumping 4.2 percent to 113,000 dong. Vincom plans to list 4.7 million additional shares on May 23, according to a statement on the exchange’s website. These extra shares were converted from corporate bonds previously issued by the company, the statement said, without elaborating.
Vietnam Sea Transport & Chartering Joint-Stock Co. (VST VN), a shipping service provider, fell for a seventh straight day, trimming 3 percent to 6,400 dong. The Ho Chi Minh City- based company’s profit declined to 3.93 billion dong ($191,000) in the first quarter of 2011 from 24.43 billion dong a year earlier, according to a statement on the bourse’s website.
Joint-Stock Commercial Bank for Foreign Trade of Vietnam (VCB VN), the country’s biggest listed bank, rallied for a third day, rising 3.2 percent to 31,900 dong, the highest since March 21. Vietcombank, as the company is known, plans to revive plans to sell as much as a 20 percent stake to overseas investors, Chairman Nguyen Hoa Binh said by phone yesterday. Credit Suisse Group AG will advise on the sale planned for next year, Binh said.
--Nguyen Dieu Tu Uyen. With assistance from Diep Pham. Editor: Reinie Booysen
To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at firstname.lastname@example.org
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