Deo Ca (HHV): ‘Shark’ Pye Elite fund registers to buy over 7.1 million shares
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Deo Ca (HHV): ‘Shark’ Pye Elite fund registers to buy over 7.1 million sharesIn trading on January 9, HHV (HM:) (Deo Ca) stock price was 15,900 VND/share, up 73% from the beginning of 2023 and 55% higher than the issue price.
| The Deo Ca joint venture has just won the bid for the first phase of Dong Dang-Tra Linh expressway project, with a total investment of nearly 14.2 trillion VND. |
Deo Ca Transport Infrastructure Investment Joint Stock Company (symbol HHV – HoSE) announced a board resolution regarding the issuance of unallocated shares.
It is understood that among the recently completed issuance of 82.3 million HHV shares to existing shareholders with an issue price of 10,000 VND/share and an execution ratio of 4:1, only 75.2 million shares are available for issuance, and shareholders (accounting for 91.34 %) of the total amount for sale).
The number of remaining shares exceeds 7.1 million and the Deo Ca board of directors has agreed to continue to search for and select plans for reallocation to interested domestic and foreign entities/investors.
According to the latest update, Pye Elite Fund (not Ucits) has just registered to buy all the above stocks at VND 11,000/share.
On the stock market, HHV shares fell 1.2% to VND15,900 per share at the close of trading on January 9. However, this figure is still up 73% from the beginning of 2023 and 55% above the asking price.
Looking at the technical charts, HHV stock currently maintains a positive medium-term stance as the price trades above the MA50-200 line. However, in the short term, HHV stock tends to accumulate in the price range around VND 16,000/share. Especially after the explosive meeting on January 3rd.
When the price adjusts to around 15,100 VND/share, investors can open a position; when the closing price is lower than 14,700 VND/share, take the initiative to stop losses.
Regarding plans for the period 2023-2025, HHV proposes to invest in nearly 400 kilometers of highways, including the Dong Dang-Tra Linh Expressway Project (located in Cao Bang), Huu Nghi-Chi Lang (located in Lang Son), Tan Phu-Bao Expressway Project Loc (Lam Dong Province), city. Ho Chi Minh City – Chon Thanh, Ring Road Section 4 passes through Binh Duong Province,…The total investment is about 100 trillion VND.
Recently, the HHV joint venture won the bid for the first phase of the Dong Dang-Tra Linh expressway project in a public-private partnership (PPP) manner, with a total investment of nearly 14.2 trillion VND.
>> Technical Analysis: Public investment expected to push HHV price into 2x zone
