Vietnam Stock Movers: Khang Dien House, Mien Dong, Pomina Steel
The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, jumped 1.9 percent to 448.45, heading for the highest level since March 5. The VN-30 Index (VN30), a free-float adjusted, market capitalization-weighted index of 30 stocks that have the highest market value and liquidity on the bourse, increased 2 percent to 511.41.
Khang Dien House Trading and Investment Joint-Stock Co. (KDH VN), a real estate and construction company, climbed 4.6 percent to 20,600 dong, poised for the biggest advance since March 8. VOF Investment Ltd. will boost its stake in Khang Dien to 14.9 percent from 5 percent from March 23 to May 23, according to a filing with the bourse.
Mien Dong Joint-Stock Co. (MDG) (MDG VN), a construction company, gained 3.7 percent to 5,600 dong, poised for the highest level since Dec. 23. The company will pay a dividend of 700 dong a share in April, according to an exchange statement.
Pomina Steel Corp. (POM) rose 3.3 percent to 12,700 dong. The company on March 16 began operations at its second steel factory with capacity of 1 million metric tons a year, according to a statement on the exchange’s website. It stopped importing steel billet from early 2012 and expects to save $300 million a year by buying scrap steel instead of billets, according to the statement.
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