After more than a month of trading on UPCoM, AIG's market capitalization has evaporated by 3 trillion VND.

Just over a month after Asia Group Joint Stock Company (Asia Group, UPCoM: AIG) officially began trading on the UPCoM exchange, AIG shares have lost 28% of their value, equivalent to a market capitalization loss of over 3,000 billion VND.

The reference price on the first trading day of AIG shares was VND 63,000/share, with 170.6 million shares traded, estimating Asia Group's market capitalization at over VND 10,748 billion.

However, at the close of trading on December 18th, AIG shares of Asia Materials Joint Stock Company plummeted to a low of only 45,500 VND/share. Compared to the time of its IPO, the stock has lost 28% of its market value.

Thus, compared to the reference price, market capitalization has been wiped out by more than 3 trillion VND in over a month, leaving it at nearly 7,700 billion VND.

In the morning trading session on December 19th, AIG's share price edged up slightly by 2.66% to 46,300 VND/share, but it remained very low compared to the reference price of the first trading session.

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Prior to its IPO, AIG's market capitalization was estimated at VND 10,748 billion. With this market capitalization, AIG entered the group of large-capitalization companies in the food and beverage (F&B) sector on the Vietnamese stock market.

However, trading activity in the first few sessions suggests that investors are not yet very enthusiastic about these food ingredient stocks.

Regarding business results, in the third quarter of 2024, AIG recorded net revenue of VND 3,112 billion, an increase of 7% compared to the same period last year, and after-tax profit of VND 203 billion, an increase of nearly 10%.

For the first nine months of the year, AIG's net revenue reached VND 8,891 billion, an increase of 3%, and after-tax profit reached VND 634 billion, an increase of 10% compared to the same period last year.

In 2024, the company planned for net revenue of nearly VND 12,950 billion and after-tax profit of nearly VND 890 billion. Thus, with after-tax profit reaching VND 634 billion in the first nine months, Asia Group has completed 71.3% of its annual plan.

The company's total assets currently stand at VND 9,727.7 billion, with liabilities amounting to VND 4,050 billion.