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Two new firms join HOSE, now 118 strong
Joint-stock firm Vitaco, which provides petrol transport, shipping and housing services, will become the 118 th company on the board of the Ho Chi Minh City Stock Exchange (HOSE).
The reference price is 75,000 VND. The State holds 51 percent of the company, whose chartered capital is 400 billion VND (25 million USD), with foreign investors holding 11 percent.
The company plans to increase its capital to 600 billion VND and existing shareholders will be eligible to buy one share at the price of 10,000 VND for every two they own.
The money would go to development projects including a new vessel of 40,000 tonnes. The company’s current fleet has a capacity of more than 143,000 tonnes.
In the first eight months of this year, Vitaco netted over 85 billion VND in profits. The figure for 2006 was 98 billion VND.
Shareholders this year will receive dividends of 12 percent, which is the same as last year’s rate.
On October 8 the HCM City Stock Exchange also received Ba Ria-Vung Tau House Development Co. (HDC) as the 117th listed firm.
The company is capitalised at 81 billion VND and focuses on development of housing and industrial construction projects. Almost 14,000 shares were traded on October 8 at 84,000 VND per share.
VNA
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