Bloomberg News

Vietnam Equity Movers: Duc Long Gia, Hung Vuong, Viet Thang Feed

May 22, 2012

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 2:15 p.m. close in Ho Chi Minh City. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, was little changed at 447.94.

Duc Long Gia Lai Group Joint-Stock Co. (DLG) , whose businesses include real-estate, mining and wood processing, sank by the daily limit of 5 percent to 17,200 dong, the lowest close since October 2010. The company’s net income in the first quarter fell 38 percent to 9.6 billion dong ($460,475), according to a filing with the bourse.

Hung Vuong Corp. (HVG VN), Vietnam’s largest listed seafood producer and exporter, climbed 2.2 percent to 41,000 dong, a one-week high. The company will take over Viet Thang Feed Joint- Stock Co. (VTF) by buying 3 million shares through a private placement in the third quarter, the Thoi Bao Kinh Te Vietnam newspaper reported today, citing Hung Vuong. After the stake purchase, Hung Vuong will hold 51 percent in Viet Thang, the report said. Viet Thang Feed rose 4.7 percent to 26,800 dong.

To contact Bloomberg News staff for this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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