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HCM City exchange welcomes number 153
The Binh Duong province based Mirae Joint Stock Company on June 30 became the 153 rd company to list on the Ho Chi Minh City Stock Exchange (HOSE).
The company, coded KMR on the bourse, recently delisted from the Hanoi Securities Trading Center .
Formerly a wholly Korean-owned company, Mirae became joint stock last year and has a charter capital of 133 billion VND (8 million USD). The Korean founding members hold around 46 percent of its stakes, and four institutional investors, including Hanoi Financial Investment Joint Stock Company and Kim Long Securities Company, together hold 20 percent.
The company makes cotton sheets for blankets, pillows and other items, besides other textile and garment products.
Last year it recorded a net profit of 21 billion VND and the figure is expected to reach 30 billion VND this year.
“We plan to set up a new factory in Cambodia and open a branch in Danang,” its president, Young Sik Shin, said.
“Listing at HOSE will help promote our company’s image not only in Vietnam but in Korea as well,” he said.
Also on June 30, the company signed a memorandum of understanding with Tong Yang Investment Bank.
With Tong Yang acting as advisor, Mirae is expected to list on the Korean stock exchange in the second quarter of next year.
VNA
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