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Vietnam’s Equity Movers: Licogi 16, Lu Gia Mechanical, Electric

Oct. 11 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the close in Ho Chi Minh City.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, dropped 0.5 percent, to 417.73.

Licogi 16 Joint-Stock Co. (LCG VN), a Ho Chi Minh City-based builder of roads and ports, fell for a third day, losing 1.6 percent to 12,400 dong, the lowest since Aug. 16. Licogi has revised its 2011 net profit forecast down by 46.4 percent, to 134 billion dong, according to a statement on the exchange’s website. The company also revised dividend payment plan to 1,700 dong a share, from an initial 2,500 dong, it said.

Lu Gia Mechanical Electric Joint-Stock Co. (LGC VN), which manufactures street lighting and traffic signals, dropped for a fourth straight day, losing 4.9 percent to 25,300 dong, the most since Sept. 21. Saigon Transportation Mechanical Corp. known as SAMCO, a major investor in Lu Gia plans to start selling all of its 1.68 million shares in Lu Gia from Oct. 13, according to a statement on the bourse’s website.

To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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