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SAVICO lists on HCM City bourse
The Saigon General Service Corporation (SAVICO, listed officially as SVC), which provides trading, financial and real estate services, yesterday became the latest listing on the HCM City Stock Exchange (HOSE).
The company had earlier been listed on the HaNoi Securities Trading Center but decided to move to HoSE because they are planning to "continue expanding operations into business areas in HCM City," said chairman Nguyen Vinh Tho.
He added the move was being made according to the wishes of shareholders and partners. Disclosure of the company’s performance and development strategies would be improved, Tho added.
Trading for SVC shares at the Ha Noi exchange (HaSTC) ended on May 15 when it closed at VND24,600 (US$1.36).
The reference price for its first session at HoSE was VND21,600, the average of its final five trading days at HaSTC. It closed yesterday at VND25,900.
SVC has a charter capital of more than VND203 billion.
This year, the company targets a total turnover of VND2.25 trillion.
That is expected to yield pre-tax profits of VND71 billion. Dividends are expected at a minimum of 10 per cent.
In the first five months of this year, it has recorded a turnover of VND911.5 billion and almost VND34 billion in gross profit.
The company has several real estate projects, including the office building on 91 Pasteur Street, District 3; another at 56 Ben Van Don, in HCM City and the high-rise complex at Savico Plaza Long Bien in Ha Noi.
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