6PM Call: More Divestment Actions to Come - Update on QNS
The market has received more news regarding the state’s divestment activities. First, the Ministry of Industry and Trade finally announced its divestment plan in SAB. Similar to VNM’s case, it will host competitive bidding among eligible investors in December. Second, the market this morning also witnessed an upturn in DIG, after the Ministry of Construction announced a full divestment of 49% capital, and in HDG as the Ministry of Defense completely sold its last 5.2 million shares. However, only HDG remained at the ceiling price until the end of the session. Considering the earnings potential from hydropower, office leasing and especially Ha Do Centrosa project, RongViet Research had maintained a BUY recommendation in its September report for HDG with a target price of VND39,700.
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