One of m88 vin link remarkable movements in m88 vin link securities market last week was that m88 vin link group of foreign investors continued to simultaneously buy more GEX shares, thereby raising m88 vin link level of ownership to become a major shareholder in this enterprise.

m88 vin link group of foreign funds continuously bought GEX shares and GEX returned to m88 vin link position of a major shareholder

Specifically, according to the information disclosure from m88 cá cược trực tuyến Joint Stock Company to the State Securities Commission and Ho Chi Minh City Stock Exchange (HOSE), on December 5, the foreign fund group Dragon Capital continued to buy 3 million more GEX shares to increase its ownership from 5.68% to 6.03% of charter capital in Gelex. To be specific, Grinling International Limited bought 2 million shares and Vietnam Enterprise Investments Limited bought 1 million shares, increasing their ownership by 0.73% and 1.9% respectively, increasing the ownership rate of this group of foreign funds in GEX from 5.68% to 6.03% of charter capital.

Based on m88 vin link trading price of GEX shares at VND 16,200/share on December 5 (trade date), with this purchase, it is estimated that Dragon Capital group spent a total amount of about VND 48.6 billion to buy 3 million GEX shares.

Previously, on November 18, Dragon Capital group reduced its ownership rate from 5.3% to 4.69% of charter capital and was no longer a major shareholder when selling 5.2 million GEX shares. To be specific, Vietnam Enterprise Investments Limited sold 3 million shares; Amersham Industries Limited sold 2 million shares; Samsung Vietnam Securities Master Investment Trust (Equity) sold 0.2 million shares. However, shortly afterward, on November 29, m88 vin link fund group related to Dragon Capital bought back 5,156,900 shares of GEX, raising its ownership level from 4.74% to 5.34% of charter capital and returning to m88 vin link position of a major shareholder in Gelex. Specifically, Amersham Industries Limited fund bought 4,156,900 shares to raise its ownership rate from 0.83% to 1.32% of charter capital; Vietnam Enterprise Investments Limited fund bought 1 million shares to raise its ownership rate from 1.77% to 1.88% of charter capital.

m88 vin link continuous adjustment of selling-purchase of foreign funds for GEX shares is considered a positive move when these groups of investors recognized m88 vin link positive growth potential and rapid recovery prospects of Gelex’s core investment areas, combined with m88 vin link picture of increasingly improving financial stability. It is remarkable that m88 vin link Dragon Capital fund group is a companion for a long time with Gelex when holding a large number of shares of this Company for a long time in m88 vin link investment portfolio.

Positive financial and cash flow health improvement

A move also noticed by investors is that Gelex announced buying back 777 TP.GEX.2020.01 bonds with a par value of VND 100 million / pre-maturity bond, equivalent to VND 77.7 billion. m88 vin link total issuance value of this bond code is VND 300 billion, currently, and m88 vin link remaining amount in circulation is VND 77.7 billion, equivalent to m88 vin link entire amount of Gelex bonds expected to be bought back. TP.GEX.2020.01 bonds were issued on May 13, 2020, and matured on May 13, 2023, with a fixed interest rate of 9.5%/year.

Gelex has also approved m88 vin link plan to buy back m88 vin link bond lot GEXH2124002 worth VND 200 billion out of m88 vin link total value of VND 1,000 billion of code bonds in circulation. m88 vin link expected time to buy back is December 23, 2022. Bond GEXH2124002 was issued on December 23, 2021 and matured on December 23, 2024, with a fixed interest rate of 8.5%/year, and a total par value of m88 vin link issue is VND 1,000 billion. After a successful purchase, m88 vin link bond lot GEXH2124002 will have m88 vin link remaining VND 800 billion of circulating value. With m88 vin link early redemption of m88 vin link above 2 bonds, Gelex will complete m88 vin link purchase of a total value of VND 277.7 billion of issued bonds.

This is a move to m88 vin link continuous repurchase of pre-maturity bonds from May 19 to July 25. It is estimated that by m88 vin link end of July 2022, Gelex bought back a total of VND 1,627.2 billion of pre-maturity bonds, strictly following m88 vin link plan mentioned by m88 vin link Gelex Board of Directors at m88 vin link 2022 General Meeting of Shareholders, which is to be ready to conduct repurchase of pre-maturity bonds to reduce debt on bond debt when it is due or at m88 vin link request of bondholders, contributing to promoting stability in enterprises’ financial health.

By m88 vin link end of m88 vin link third quarter of 2022, Gelex’s cash flow and financial situation had more positive changes. Liabilities dropped sharply by 19% to VND 32,961 billion, of which loans and finance leases decreased by 20% to VND 17,624 billion. By proactively reducing payables, debt and bond debt, Gelex’s management board is expected to significantly cut financial costs in m88 vin link context that interest rates still tend to increase sharply. This helps to improve Gelex’s financial stability more sustainably, as demonstrated by its debt and liquidity ratios.

As announced by Gelex, as of December 31, 2021, m88 vin link net debt/EBITDA ratio is 1.8 times, compared with m88 vin link standards of financial institutions when considering credit up to about 3.5 times. m88 vin link ratio of short-term properties/short-term liabilities is about 1.3 times, and total debt/equity is about 1. With continuous high growth in business results in m88 vin link 3 quarters of 2022, m88 vin link financial capacity is strengthened, and m88 vin link early final bonds settlement helps to sharply reduce debts, thereby reducing financial costs for Gelex, bringing m88 vin link debt ratio of m88 vin link business to continue to move in m88 vin link positive and right direction that Gelex’s management board set at m88 vin link 2022 General Meeting of Shareholders.

In m88 vin link third quarter of 2022, Gelex recorded m88 vin link net revenue of VND 7,014 billion, an increase of 16% over m88 vin link same period last year, while profit before tax reached VND 282 billion, down by 30% compared to m88 vin link same period last year. m88 vin link structure of net revenue in m88 vin link third quarter mainly came from m88 vin link electrical equipment segment with VND 3,339 billion. All of Gelex’s other business segments’ revenue have grown, contributing to m88 vin link revenue structure, of which building materials reached VND 2,611 billion, real estate and industrial parks was VND 628 billion, and energy and clean water was VND 362 billion. With this result, in m88 vin link first 9 months of m88 vin link year, Gelex’s total consolidated net revenue was VND 24,729 billion, and consolidated profit before tax reached VND 1,767 billion, increasing by 29% and 25% respectively over m88 vin link same period in 2021.

In 2022, GELEX set a target of VND 36,000 billion in revenue and VND 2,618 billion in consolidated profit before tax, increasing by 26% and 27% respectively compared to 2021. Thus, at m88 vin link end of 9 months, GELEX completed 69% of m88 vin link revenue target and 68% of m88 vin link targeted profit before tax for m88 vin link whole year.

Meanwhile, on December 09, GELEX issued a notice to internal stock trading. Accordingly, GEX Investment One Member Limited Company registered to sell 80 million GEX stocks, equivalent to 9.39% of m88 vin link total outstanding stocks of this Group. Transactions would be made by order matching or agreement from December 14, 2022 to January 12, 2023. m88 vin link expected transaction value (calculated at par value) is VND 800 billion. m88 vin link registration to sell a large number of stocks of m88 vin link enterprise is to structure m88 vin link investment portfolio.

According to Hieu Phuong – Economic forecast magazine