Select language:

HSC has invested hundreds of billions in Vinasun

Tuesday - 05/06/2018 19:42
While Singapore's investment fund fled from the business, a stock company spent large sums on the stock.
Ho Chi Minh City Securities Company (HSC) has announced the purchase of 7.2 million shares (10.6% of chartered capital) of Vietnam Sunshine Joint Stock Company (Vinasun, code VNS). The transaction was made on May 25th, coinciding with the time of appearing the put through transaction of 7.2 million VNS shares on HoSE.

With an average price of VND14,400 per share, it is estimated HSC has spent about VND104 billion to become a major shareholder of this taxi business. Before trading HSC only owns 8 VNS shares.
 
HSC-has-invested-hundreds-of-billions-in-Vinasun
Taxi Vinasun

After the bottom-fishing deal, HSC is currently the third largest shareholder after Dang Phuoc Thanh (35% owned by the company) and TAEL Partners (18.3%). .

At the same time HSC bought, the government of Singapore sold 5.4 million shares of Vinasun through an agreement. With the price less than half of the purchase price after adjustment, this fund is estimated to suffer losses of nearly 120 billion.

The buying behavior of HSC took place in the context of VNS shares of Vinasun fell sharply as business prospects in recent years continued to plummet. From the peak of 36,000 dong at the end of 2014, VNS has just nearly 14,000 dong, losing more than 60% of the market price.

As a securities company, HSC's investment may be based on the expected recovery of Vinasun shares after a long time of this stock plummeting. However, this securities company may only be the intermediary of a stock for another investor wishing to take over the Government of Singapore at Vinasun.

Back to the story of this business, although the board recently confirmed that the company has overcome the most difficult period since its establishment, Vinasun still through the fourth year plan cuts in succession .

In 2018, Vinasun aims to achieve total revenue of approximately VND 2,160 billion, down about VND 1,070 billion compared to the previous year. With the revenue plan falling sharply due to fierce market competition from taxi companies, the company also forecasts after tax profit halved to VND95 billion and become the lowest in nine years.

However, this plan is becoming challenging as business results in the first quarter continue to plunge. After the first three months of the year, Vinasun's net revenue was just over VND489 billion, down 55% y / y. The passenger taxi business reduced sharply to VND202 billion, equivalent to 20% of the same period last year.

Despite compensation from franchise and taxi operators, Vinasun's first-quarter net profit only reached VND12 billion, equaling 21% of the same period last year and fulfilling just over 12% of its full-year target. out.
 
vns chart day 2018 cophieuviet com
vns chart

 

Total notes of this article: 0 in 0 rating

Click on stars to rate this article

  Reader Comments

You did not use the site, Click here to remain logged. Timeout: 60 second