Contest to buy Quoc Cuong Gia Lai shares after Ms. Nguyen Thi Nhu Loan was released on bail

ANTD.VN - QCG shares of Quoc Cuong Gia Lai Joint Stock Company hit the ceiling as soon as they opened, investors rushed to buy after Ms. Nguyen Thi Nhu Loan, former CEO, was released on bail.

Right from the opening of the trading session on November 26, Quoc Cuong Gia Lai's QCG shares "took off" and increased to the maximum limit, reaching 11,750 VND/share. The number of shares remaining for purchase at ceiling price increased rapidly, reaching more than 1.5 million units by the end of the morning session. Meanwhile, the selling volume was insignificant, with only 153,000 units matched.

The upturn in QCG shares is due to the information that the company has just announced, stating that Ms. Nguyen Thi Nhu Loan, former General Director of Quoc Cuong Gia Lai, has been released on bail.

Ms. Nguyen Thi Nhu Loan was released on bail.

Specifically, the former CEO of this enterprise had his preventive measures changed by the Ministry of Public Security's Investigation Police Agency on November 11, 2024. Currently, Ms. Nguyen Thi Nhu Loan is on bail while the authorities investigate the case.

“After the change in the preventive measures, Ms. Nguyen Thi Nhu Loan continues to support the investment and business activities of Quoc Cuong Gia Lai Joint Stock Company by accompanying the Board of Directors and the General Director to continue to resolve the work and projects that are still being implemented,” said the announcement document of Quoc Cuong Gia Lai.

Previously, on July 19, 2024, Ms. Nguyen Thi Nhu Loan was temporarily detained by the Department of Police Investigation of Crimes of Corruption, Economy , and Smuggling (C03, Ministry of Public Security) for violating regulations on management and use of State assets causing loss and waste in Clause 3, Article 219 of the Penal Code. Ms. Loan was accused of violating the law in the transfer of the 39-39B Ben Van Don project.

Regarding business activities, Quoc Cuong Gia Lai's business results in the third quarter of 2024 also improved with revenue and profit increasing sharply compared to the same period. Specifically, QCG recorded more than 178 billion VND in net revenue and nearly 26 billion VND in net profit, nearly 3 times higher than in the third quarter of 2023. However, due to losses in the first two quarters of the year, Quoc Cuong Gia Lai still had a profit of nearly 11 billion VND accumulated in 9 months.

According to the company, the reason for the positive business performance is thanks to the improvement in apartment handover to customers.

Source: https://www.anninhthudo.vn/tranh-mua-co-phieu-quoc-cuong-gia-lai-sau-khi-ba-nguyen-thi-nhu-loan-duoc-tai-ngoai-post596599.antd