Duc Giang Chemicals stock becomes most expensive ticker on main bourse

By Phuong Dong April 15, 2022 | 12:03 am PT

A plant of Duc Giang Chemicals in Lao Cai Province. Photo courtesy of Duc Giang Chemicals

DGC of Duc Giang Chemicals Group 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 by shares.

The ticker surged 7 percent, the maximum increase for the day, to hit a new peak Thursday.

It surpassed VCF of Vinacafe Bienhoa at VND240,000, which had secured the top price position for around two years.

DGC started to rise since March last year when its price was at around VND15,000. It is now 16 times higher.

The board on Thursday announced a plan to issue 17 new shares for each shareholder of 100 shares in this or next month after official approval.

The company expects a post-tax profit of VND1.5 trillion in the first quarter, five times that of last year.

It eyes a profit of VND4.1 trillion for the whole year, up 71.5 percent year-on-year.

During Thursday’s session, foreign investors bought VND93 billion worth of DGC shares while selling little.

Its price has now surpassed the earlier forecasts of several brokerages, like VND197,400 of Mirae Asset and VND233,000 of BIDV Securities.

Mirae Asset has now increased its forecast to a new target of VND280,000, up 13 percent from now, while SSI of leading brokerage SSI Securities Corporation put the ticker at VND252,000, up 2 percent.