Monday, June 25, 2018 10:05:42 PM - Markets open
VN-INDEX 990.52 +7.35/+0.75%
HNX-INDEX 111.99 +0.01/+0.01%
UPCOM-INDEX 52.02 +0.21/+0.41%
SBT to buy back 83.5 million shares
http://vietnamnews.vn/ - 4/10/2018 11:07:12 AM
 (0 ratings. You must sign in to rate.)
Domestic sugar producer Thành Thành Công-Biên Hòa Joint Stock Company has announced it will buy back more than 83.5 million shares as treasury stocks.
 
The company will buy the shares through order-matching transactions between April 18 and May 17.
 
It will buy those shares based on the firm’s share price levels but the price levels will not exceed VNĐ30,000 (US$1.33) per share.
 
The company is not holding any treasury shares, the HCM Stock Exchange said in a statement. The targeted buyback shares are equal to 15 per cent of the company’s total outstanding shares on the stock market.
 
Thành Thành Công-Biên Hòa JSC is trading more than 557 million shares on the HCM Stock Exchange with code SBT.
 
Its shares closed flat on Monday at VNĐ18,050 per share, up a total of 5.5 per cent from its three-month low of VNĐ17,100 per share hit on March 29.
 
SBT shares have fallen sharply by 56.6 per cent from their record high of VNĐ41,650 per share on August 2, 2017 and by nearly 26 per cent from the six-month high of VNĐ24,350 per share made on January 11, 2018.
 
SBT and other sugar producers have underperformed on the stock market since the beginning of the year as they have suffered from trade agreement threats and the sharp decline of sugar prices.
 
The price of sugar was down nearly 0.1 per cent on Monday to trade at 12.33 US cents a pound ($27.2 cents a kilogramme), data on Bloomberg showed.
 
The sugar price has almost lost a fifth of its one-year high price of 15.33 cents a pound hit on January 2. Due to a surplus on the global market, last month was volatile as it peaked at 12.93 cents a pound on March 12.
 
Domestic producers will have to compete with sugar imports from other producers in the ASEAN region, especially after the ASEAN Trade in Goods Agreement (ATIGA) took effect on January 1, 2018, allowing sugar imports in Việt Nam to be taxed only 5 per cent.
 
Other sugar stocks that have also witnessed a downtrend included Lam Sơn Sugar JSC (LSS), Sơn La Sugar JSC (SLS) and Kon Tum Sugar JSC (KTS). – VNS
 
Read original article here
Newer News
13:32 Vietcombank seeks bancassurance partnership
23/06 CCM cancels listing on HNX
23/06 VGC: Ministry to sell 18% stake in Viglacera
19/06 KEB Hana Bank BIDV’s potential strategic investor: VCSC
19/06 BCG: Bamboo Capital to focus on core business activities
18/06 TCB: Techcombank to increase charter capital to 1.53 billion USD
15/06 NLG: Nam Long Corporation offers five million shares for foreign investors
15/06 BSR first shareholders’ meeting
13/06 VIC: Vingroup announces plan to produce smartphones
07/06 VHM: Berjaya Land sells finance centre to Vinhomes
Older News
10/04 Vingroup enters pharmaceutical industry
10/04 HPG: Hoa Phat exports wire drawing steel to Laos, RoK
07/04 Vietinbank and PG Bank deal collapses
07/04 Sabeco asked to hold shareholders’ meeting on personnel matters
06/04 TPBank heads to HSX at VND32,000 initial price
05/04 HVG: Seafood firm Hùng Vương to sell assets to offset losses
04/04 Sabeco meeting to add ThaiBev to board
03/04 VIC: Vinfast’s sedan, SVU models acquire IP protection in EU
02/04 HPG: Steelmaker Hoa Phat Group targets 2.42 billion USD in revenue
02/04 Vinamilk sets 2.46 bln USD in revenue in 2018
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:09:55 PM
VN-INDEX 990.52 +7.35/+0.75%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.