FPT Online shares rise, hit day’s 40 percent ceiling

December 11, 2018 | 04:29 pm GMT+7
FPT Online shares rise, hit day’s 40 percent ceiling
FOC shares saw a 40 percent increase in its ceiling price. Photo by VnExpress

Shares of FPT Online, publisher of VnExpress, have seen a 40 percent increase in their first trading days against the debut price.

At the end of Monday’s trading session, the first trading session of FPT Online (FOC) shares, the shares traded at VND154,000 ($6.58) per share, making it the highest priced stock on the market for unlisted public companies (UPCoM). 

40 percent is the upper limit for prices to rise in a day. Its debut price is VND110,000 per share.

In terms of price, they were the fourth highest in all of Vietnam’s stock markets, behind multi-channel media conglomerate Yeah1, Vietnam’s largest brewer Sabeco and construction firm Coteccons.

On Tuesday afternoon, FOC prices went slightly down to VND153,400 ($6.56) per share.

The movement of FOC shares seemed to go against the trend of Monday’s trading session when the HoSE and HNX exchanges as well as UPCoM were mostly in the red.

By the end of the trading session, the VN-Index fell nearly 2.7 points, or 0.28 percent to 955.89 points, while the VN30-Index also fell 0.73 percent, or by nearly 7 points. Meanwhile, the HNX-Index and UPCoM-Index decreased 0.3 percent and 0.82 percent, respectively.

After the trading session, FPT Online’s market cap reached VND2.1 trillion ($90 million), more than double the total assets of the company. 

FPT Online, a subsidiary of Vietnam's tech giant FPT Corporation, was established in 2007 with the main businesses of online advertisement, online games, online music, social media, and messaging services.

FPT Online also publishes the online newspapers VnExpress, Ngoi Sao and iOne in Vietnamese and VnExpress International in English.

FPT Online leads the online advertising business in Vietnam with over 50 percent of the market share.

This year it targets net revenues of VND570 billion ($24.37 million) and a post-tax profit of VND267 billion ($11.41 million), 9 percent and 7 percent higher than last year, respectively.

 
 
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