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Gelex Electric buys 30 million shares in ceramics firm

Update: October, 30/2019 - 07:31


The Viglacera head office in Hà Nội. Thirty million shares of the company have been traded for an estimated VNĐ630 billion. - Photo

HÀ NỘI – Gelex Electrical Equipment Co Ltd (Gelex Electric) has bought 30 million shares in ceramics firm Viglacera, completing 75 per cent of its purchasing target.

The member of the Vietnam Electrical Equipment Corporation (Gelex) had registered to buy 40 million shares from Viglacera’s shareholders from October 3-14.

Through the purchase Gelex Electric has raised its ownership in Viglacera to 87.1 million shares (19.43 per cent stake) from 57.1 million shares (12.74 per cent stake).

The shares fetched VNĐ21,100 (US$0.91), valuing the deal at VNĐ630 billion ($27 million).

Viglacera shares are listed on the Hồ Chí Minh Stock Exchange as VGC. The stock slid 0.3 per cent to end Tuesday at VNĐ19,050.

Its shares have swung between VNĐ18,700 and VNĐ20,000 share over the past two months.

In the first nine months of the year, Viglacera earned VNĐ7.4 trillion in total revenue and VNĐ611.6 billion in post-tax profit. – VNS


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