VNZ shares are the most expensive in Vietnam’s stock history, VNG reaches billion USD market cap

The momentum of share VNZ – VNG JSC shows no signs of stopping. The market price had another session with a dramatic increase to the ceiling right at the opening session of February 10 and was maintained until the middle of the afternoon session.

Thanks to a series of galloping gains for 8 consecutive sessions, steadily 15% each day, VNZ has now risen to VND893,400/share. This marks the fact that VNZ stock officially became the most expensive stock in the nearly 23-year history of trading on the Vietnamese stock market, surpassing the price of VND847,000 set by BMC shares of Binh Minh Minerals Joint Stock Company. Set in May 2007.

Thus, a series of records have been set by the VNG technology “unicorn” after less than 2 weeks of trading.

From increasing to more than 100,000 VND/share in just one trading session – higher than most stock prices on the floor at the moment, to increasingly leaving other names to hold the number one position in the market. price on the floor. It is not excluded that new peaks will continue to be recorded in the coming sessions.

Notably, according to regulations from the State Securities Commission, organizations listed or registered for trading will have to explain when the share price rises to the ceiling or falls to the floor for 5 consecutive sessions. However, updated from the Hanoi Stock Exchange (HNX), there is no explanation from VNG JSC about the increase in corporate stocks.

Liquidity improved significantly with 300 units matched on February 10, equivalent to a trading value of nearly 270 million dong. The previous 7 ceiling gain sessions of this stock had the same scenario of 100 units being traded per session.

The reason is that a large number of shares are in the hands of foreign shareholders as well as senior leaders. VNZ’s freefloat ratio is currently only 40%, equivalent to more than 11 million shares outside the market, a relatively low number.

Thanks to the “hot” boost circuit, VNG’s market capitalization has reached 24,000 billion VND, equivalent to more than 1 billion USD, nearly 4 times higher than the time of offering. However, this number is still much lower than the peak reached by Vietnam’s first technological “unicorn”.

Remember in 2019, VNG was valued at $2.2 billion by investment fund Temasek (equivalent to 1.8 million VND/share). In 2021, VNG is still highly valued when QLQ Mirae Asset Company buys shares at the price of 1.7 million VND/share.

With the ownership of 12.3% of outstanding shares, equivalent to 3.53 million VNZ shares, the asset value on the stock exchange of Mr. Le Hong Minh – the co-founder and CEO of VNG has reached threshold of VND 3,200 billion, an increase of more than VND 2,400 billion since the beginning of February.

Contrary to the rise in stock prices, the business situation of Vietnam’s first technology “unicorn” is not very positive.In 2022, VNG has a pre-tax loss of VND 943 billion, a loss after tax of VND 1,315 billion, and a loss after tax of parent company shareholders VND 858 billion. This is not only a record loss but also the first time that all three indicators are negative in the history of VNG’s operations.