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Gelex Electric buys 30 million shares in ceramics firm

Oct 30th at 08:55
30-10-2019 08:55:18+07:00

Gelex Electric buys 30 million shares in ceramics firm

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 VND21,100 (US$0.91), valuing the deal at VND630 billion ($27 million).

Viglacera shares are listed on the Ho Chi Minh Stock Exchange as VGC. The stock slid 0.3 per cent to end Tuesday at VND19,050.

Its shares have swung between VND18,700 and VND20,000 share over the past two months.

In the first nine months of the year, Viglacera earned VND7.4 trillion in total revenue and VND611.6 billion in post-tax profit.

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