In the first trading session, 300 million GEE shares had a reference price of VND37,150/share (average reference price of 30 sessions before the delisting date at UPCoM), equivalent to a capitalization of VND11,145 billion. The price fluctuation range is +/-20%.
Previously, July 18 was GEE's last trading day on the UPCoM trading system with a closing price of VND43,000/share.
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GELEX Electric's board of directors performed a gong-beating ceremony to celebrate the first trading day of GEE shares on HoSE. |
Speaking at the ceremony, Mr. Nguyen Trong Trung - General Director of GELEX Electric said: "Currently, there are about 400 listed enterprises on HoSE, including more than 20 stocks of electricity enterprises, with the main participation of thermal power and hydropower enterprises instead of an enterprise that produces and trades electrical equipment in a complete electricity supply chain like GEE. Therefore, in addition to bringing practical values from an ecosystem of safe products for users and friendly to the environment, today, GELEX Electric is proud to bring to HOSE a new product, stock code GEE - from an industrial manufacturing enterprise".
“The listing opens up opportunities for us to find domestic and foreign partners with financial and especially technological capacity to gather enough resources in the process of transforming into a high-tech industrial company,” said Mr. Trung.
GELEX Electric's leaders also committed that the company will be open and transparent about information as well as ensure strict implementation of the obligations of a listed company during its operations.
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GELEX Electric manages the electrical equipment sector of GELEX Group. |
Established in August 2016, GELEX Electric manages the electrical equipment sector of GELEX Group, with 8 subsidiaries, manufacturing and supplying a full range of products in the electricity industry value chain from transmission to distribution and civil. Among them, many brands have a long-standing reputation and have the number 1 market share in Vietnam such as: CADIVI electric cables, THIBIDI transformers, EMIC electrical measuring equipment.
Currently, GELEX Electric is orienting its member units to promote the production of electrical equipment products with high intellectual content and environmental friendliness to serve the smart grid; orienting cooperation in research and development of new high-tech products such as: fire prevention products, security equipment, monitoring equipment, etc.
Regarding business results, according to the recently released second quarter and semi-annual financial report, in the first 6 months of the year, GELEX Electric's consolidated net revenue reached VND9,030 billion, up 24.2% over the same period; pre-tax profit reached VND821 billion, up 225.5% over the same period. This positive result was achieved thanks to flexible sales policies and good inventory control in the context of fluctuating prices of key raw materials.
Source: https://nhandan.vn/gee-stock-officially-traded-on-san-hose-post824852.html
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