Dragon Capital buys more 1.2 million shares of steel giant Hoà Phát
Posted on 13 April 2021
Hanoi Investments Holdings Limited, run by Dragon Capital, announced it has purchased an additional 1.2 million shares of steel giant Hoà Phát Group (HPG), raising its ownership in HPG from 15.95 million to 17.2 million shares.
This move caused the HPG share volume owned by Dragon Capital's investment funds to increase from 198.7 million to 199.92 million shares.
HPG shares are being traded at VNĐ49,550 per share on the stock market, up 10 per cent since the end of March but almost flat in recent sessions. Temporarily calculated according to this price, Dragon Capital group owns a volume of HPG shares worth VNĐ9.9 trillion (US$430 million).
In 2020, the enterprise recorded VNĐ90.1 trillion in revenue, up 41.5 per cent. Post-tax profit was VNĐ13.5 trillion, up by 80 per cent thanks to its flourishing steel and agriculture business.
Hoà Phát's Board of Directors plans to submit to shareholders this year's revenue plan of VNĐ120 trillion and post-tax profit of VNĐ18 trillion, both up by 33 per cent compared to the previous year.
In the first quarter, Hoà Phát achieved a sales volume of more than 2.16 million tonnes of various types of steel. Finished construction steel hit 855,000 tonnes, an increase of more than 17 per cent, in which finished steel for export was 147,000 tonnes, up 10 per cent.
Exported steel billet was more than 386,000 tonnes, up 27 per cent over the same period last year. Hot-rolled coil (HRC) products reached 665,000 tonnes, up 75 per cent compared to the fourth quarter of 2020.Source : Vietnam News