Hoa Phat shares (HPG) have hit a three-year high with a 5% increase, capitalizing at nearly 187 trillion VND, a 10% rise since the beginning of the year. The trading volume in the morning session reached over 52 million shares with foreign investors purchasing a net of 19 million shares. Hoa Phat has also announced the issuance of 1.3 billion shares to shareholders, increasing the total shares in circulation to nearly 7.68 billion. Billionaire Tran Dinh Long will receive an additional 330 million shares from this issuance, raising his total shareholding to nearly 2 billion shares, boosting his wealth to about 50 trillion VND. Business activity forecasts suggest domestic HRC steel consumption may decline in 2025 while exports may grow by 3.3%. With stable steel prices and decreasing raw material costs, Hoa Phat’s profit margin is expected to improve, and revenue is predicted to grow over the next three years, alongside a significant increase in net profit.
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