Construction group to buy back 10 million treasury shares hinh anh 1Illustrative image (Photo: internet)

Hanoi (VNA) – The Hoa Binh Construction Group has announced that it will spend 70 billion VND (2.94 million USD) buying back 10 million treasury shares (code HBC) from April 3 to May 2 in a bid to stabilise its stock price in the market.

Transactions will be executed by matching with the market price at the time of transaction.

Under COVID-19 impact, HBC shares tumbled by 35 percent compared to the beginning of the year, standing at around 7,000 VND (0.29 USD) per share.

Chairman and CEO of Hoa Binh Group Le Viet Hai said that his firm will establish a fund in accordance with legal provisions, aiming to encourage its members to invest in HBC shares through the fund.

This is also the best way to increase the confidence of shareholders and investors, especially in the time when all employees of the group show their commitment to overcome difficulties during the hard time, Hai stressed./.