Mobile World, Hoa Sen, PNJ... plan to buy shares to 'support prices'

Listed companies have announced plans to buy back shares to support shareholders and "support" stock prices when the market fluctuates. For example, Hoa Sen Group Joint Stock Company (stock code HSG) has received approval from shareholders to buy back treasury shares in the amount of 50-100 million units or the maximum amount that the company is allowed to buy back according to the current Enterprise Law (30% of the total number of issued common shares).

The purpose is to take precautionary measures to protect shareholders' interests in the context of complicated stock market developments, affecting the group's stock price. Hoa Sen's Board of Directors is authorized to decide on the appropriate implementation time based on the necessity and developments of the stock market.

Many businesses such as Hoa Sen, PNJ, and Mobile World announced plans to buy back shares to support prices when the market fluctuates.

PHOTO: VIET HUNG

Or Phu Nhuan Jewelry Joint Stock Company (stock code PNJ) has just added a proposal on its own share repurchase plan to reduce charter capital to the documents for the 2025 annual shareholders' meeting. Specifically, PNJ plans to repurchase a maximum of about 8 million shares, equivalent to 2.5% of the total outstanding shares. The purpose of the repurchase is to protect shareholders' interests and corporate value from strong fluctuations in the stock market. The Board of Directors will be authorized to decide on the specific time of purchase after approval by the State Securities Commission, depending on market developments.

Another company, Mobile World Investment Corporation (stock code MWG), also announced a plan to buy back up to 10 million MWG shares (about 0.68% of outstanding shares) to reduce charter capital, thereby increasing shareholder value. The capital source is from undistributed after-tax profits on the latest audited financial statements. The implementation time will be after approval from the State Securities Commission and the Board of Directors will decide on a specific time in accordance with the market situation.

Similarly, the Company seaport Gemadept (stock code GMD) has also just announced the Board of Directors' decision on the plan to buy back its own shares to ensure the interests of the company and shareholders. This content will be consulted at the nearest shareholders' meeting. The Board of Directors said that this move comes from the fact that "GMD's stock price is low and does not accurately reflect the company's business performance and real value". The Board of Directors also assigned the General Director to research and develop a detailed plan to buy back shares to submit to the annual shareholders' meeting for approval and implementation.

Tan Dai Hung Plastic Joint Stock Company (stock code TPC) has just approved a plan to buy back up to 30% of the total outstanding shares, equivalent to about 6.75 million TPC shares. The action helps increase earnings per share and increase the ability to pay dividends...

Enterprises that submit share buyback plans to shareholders for approval are preparing for cases where the stock market plummets and stocks fall sharply, like the first week of April. Share buybacks will help "support prices" and help shareholders feel secure...

Source: https://thanhnien.vn/the-gioi-di-dong-hoa-sen-pnj-len-ke-hoach-mua-co-phieu-de-do-gia-185250416105728499.htm