Business

Construction group to buy back 10 million treasury shares

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

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

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

Under COVID-19 impact, HBC sharestumbled by 35 percent compared to the beginning of the year, standing at around7,000 VND (0.29 USD) per share.

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

This is also the best way to increase the confidence of shareholders andinvestors, especially in the time when all employees of the group show their commitment toovercome difficulties during the hard time, Hai stressed./.
VNA
#Hoa Binh Construction Group #treasury shares #market price #COVID-19 impact #legal provisions #Vietnamplus #Vietnam News #Vietnam News Agency
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