Exiting UPCoM, Gelex Electric to trade on HoSE in mid-July
Exiting UPCoM, Gelex Electric to trade on HoSE in mid-July
The Hà Nội Stock Exchange (HNX) recently announced its decision to delist GEE shares of Gelex Electric from the UPCoM and facilitate their transition to the Hồ Chí Minh Stock Exchange (HoSE).
Gelex Electric's booth at a trade fair. — Photo gelex-electric.com |
The last trading day for 300 million GEE shares on UPCoM has been scheduled for July 18.
The decision was made after HoSE granted approval for the listing of GEE shares on July 2.
GEE shares were initially introduced for trading on UPCoM on March 8, 2022.
Nguyễn Văn Tuấn, Chairman of Gelex Electric's Board of Directors, said that the transition presents an excellent opportunity for the company to strengthen its brand recognition and attract investors, particularly foreign investors.
It aims to accurately reflect the business's potential by ensuring the GEE share value reaches its rightful worth, thereby delivering maximum value to the shareholders.
Gelex Electric, a subsidiary of Gelex Group, is known for being a profit-generating powerhouse.
With assets of VNĐ13.4 trillion (US$527.1 million) and annual revenue surpassing VNĐ16 trillion, the company consistently achieves significant net profits of around VNĐ1 trillion per year.
In 2024, Gelex Electric aims for strong growth, targeting a consolidated net revenue of over VNĐ18.3 trillion, up 10.7 per cent year-on-year, and a consolidated profit before tax of more than VNĐ1.15 trillion, up 19.7 per cent.
The first quarter’s results show positive signs, with a consolidated net revenue of VNĐ3.72 trillion, an increase of 9 per cent over last year and a profit after tax of VNĐ116 billion, up 27.7 per cent.
GEE shares were traded at VNĐ39,300 per share at 2.40pm on Friday.
