|
Packaging company to list shares
The Dong Hai Joint-Stock Company of Ben Tre (DOHACO) will arrive on the board of the HCM City Stock Exchange tomorrow.
The listing will facilitate the liquidity of its 8 million shares.
Foreign investors will be able to acquire 49 per cent of the total shares under current regulations. To date the company does not have any foreign shareholders.
The company’s activities focus on kraft, cardboard and roller paper products and aquaculture and seafood processing.
Southern cities and provinces are the main markets for its paper products, while Japan, South Korea, the EU and the Middle East are among the buyers of its aqua products.
It has a land fund of more than 37ha in Ben Tre Province for both industrial production and catfish farming.
This year the company targets a total turnover of VND320 billion (US$17.8 million) and a net profit of more than VND16 billion ($870,000), up from 2008’s VND8 billion.
In the first six months of this year, it earned VND7 billion in profits, making up 43.5 per cent of the target.
Chairman Doan Van Dao, however, said better results would come in the remainder of the year, as a result of expected economic recovery.
Also in the second half of the year, the first phase of the company’s Giao Long Paper Plant Project with an initial annual capacity of 60,000 tonnes will be put into operation.
DOHACO plans to increase its charter capital to VND150 billion from the existing VND80 billion by issuing new shares in two phases, beginning in the fourth quarter to early 2011.
vietnamnews
|
