Nam Kim Steel bought 10 million treasury shares at VND 7,800 / share
Nam Kim spent about VND 78 billion to complete the purchase of fund stocks.
According to the information from Ho Chi Minh Stock Exchange (HOSE), Nam Kim Steel Joint Stock Company (Code: NKG) has completed buying 10 million NKG shares to fund stock as previously registered.
Trading time from 2/6 to 30/6, order matching method and agreement. This is the first time Nam Kim has bought back its own shares. After the transaction, Nam Kim has a total of 10 million treasury shares.
The average purchase price is VND 7,800 / share. Thus, Nam Kim had to spend 78 billion to complete the transaction.
The source of capital to buy is undistributed after-tax profit on the audited consolidated financial statements in 2019, the surplus of equity on the audited separate financial statements in 2019.
In the transaction registration, Nam Kim said the company bought fund shares to “support transactions and increase benefits for shareholders”.
In the first quarter of 2020, Nam Kim recorded a revenue of VND 2,458 billion, after-tax profit of VND 41 billion while that of the company in the first quarter of 2019 lost VND 101 billion.
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