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HCM City bourse set to greet several new listings
The Development Investment Construction Joint Stock Corp. will be listed on the HCM City Stock Exchange with the DIG code from August 19 onwards, according to its chairman Nguyen Thien Tuan.
The reference price has been set at VND55,000 (US$3.05).
Ba Ria-Vung Tau-based DIG has a charter capital of VND600 billion ($33.5 million) in which the State’s share through the Ministry of Construction accounts for over 65 per cent.
The Vietnam Opportunity Fund managed by VinaCapital has a 7.84 per cent stake and the remaining shares are held by institutional and individual investors including DIG’s employees who hold over 2.9 per cent.
The corporation’s charter capital is expected to increase to VND1 trillion next year by retaining this year’s dividend.
Last year, the company earned net profits of VND9,256 billion. In the first half of this year, it posted net profits of over VND208 billion, making up 63 per cent of the year’s target and more than 37 per cent higher than the same period in 2008.
According to Tuan, his company has been granted a land fund of around 1,200 hectares for developing urban areas in the country. DIG is completing investment procedures for another 800ha.
Six projects covering an average minimum area of around 100ha are being developed in the 2008-12 phase. These include the Chi Linh Urban Area in southern Vung Tau city; Dai Phuoc Eco-tourist Urban Project in southern Dong Nai Province; and Nam Vinh Yen Urban area in the northern city of Vinh Phuc.
Two smaller companies, freight forwarder Vinalink (VNL) with a charter capital of VND982 billion and the Phuoc Hoa Rubber Joint Stock Company (PHR) will be listed on the HoSE as well on Monday and Tuesday respectively.
The reference price will be VND26,000 for Vinalink and VND36,000 for the rubber firm. HCM City-based Southern Rubber Industry Joint Stock Company (CSM) got on the board last Tuesday.
CSM, which has a charter capital of VND250 billion ($14 million), specialises in manufacturing vehicle tubes and tyres under the name Casumina. It enjoys a 25 per cent share of the market for car tyres and 35 per cent for motorcycles. Around 25 per cent of bicycles in the country use its tubes and tires. It also exports products to 36 overseas markets.
It posted a first half sales turnover of VND1.108 trillion, earning a net profit of more than VND105 billion, half of this year’s target.
Last Friday, Dong Nai-based Industrial Urban Development Joint Stock Company No2 (D2D) became the latest firm to list on the board.
The VND107 billion company specialises in real estate and industrial park infrastructure development.
Real estate firm Van Phat Hung Joint Stock Corporation, which is capitalised at more than VND200 billion, has got the nod from HoSE to become a member. The official listing day is yet to be announced.
Meanwhile, three joint-stock banks – Eximbank, MB, and SCB – are implementing procedures to list later this year and in early 2010, according to the exchange’s General Director Tran Dac Sinh.
vietnamnews
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