Duc Giang Chemicals stock becomes the most expensive ticker on the main exchange
A Duc Giang Chemicals plant in Lao Cai province. Photo courtesy of Duc Giang Chemicals
Duc Giang Chemicals Group’s DGC has become the most expensive ticker on the Ho Chi Minh Stock Exchange (HoSE) at VND247,000 ($10.79) as the company plans to pay dividends per share.
The ticker jumped 7%, the maximum increase for the day, to hit a new high on Thursday.
It overtook Vinacafe Bienhoa’s VCF at VND 240,000, which had secured the top price position for about two years.
DGC has started rising since March last year when its price was around 15,000 VND. It is now 16 times higher.
The board announced on Thursday a plan to issue 17 new shares for every 100 shares this month or next month after formal approval.
The company expects an after-tax profit of VND 1.5 trillion in the first quarter, five times that of last year.
It is targeting a profit of VND 4.1 trillion for the full year, up 71.5% year on year.
During Thursday’s session, foreign investors bought VND 93 billion worth of DGC shares while selling little.
Its price has now surpassed earlier predictions from several brokerages, such as VND197,400 from Mirae Asset and VND233,000 from BIDV Securities.
Mirae Asset has now raised its forecast to a new target of VND280,000, up 13% from now, while top broker SSI Securities Corporation’s SSI has put the ticker at VND252,000, up 2%.