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2 firms list on HOSE bringing total to 257
The HCM Stock Exchange received yesterday two new listings, the pharmaceutical company SPM and Tai Nguyen Company (TNT), which increased the total number of listed firms to 257.
SPM had its reference price at VND72,000 (US$3.8) while TNT shares started at VND24,000 (US$1.25).
SPM has a charter capital of VND140 billion ($7.4 million) with five domestic organisations representing 8 per cent and almost another 8 per cent from two foreign institutions.
Currently the HCM City-based SPM produces over 100 pharmaceutical products with a focus on vitamins.
SPM also invests in real estate, hospitals and mining.
It has 19ha in Long Truong Residential Project in the city's District 9 and plans a joint venture for another such project that will be kick off this year.
It aims to invest VND300 billion ($15.8 million) to develop three hospitals until 2012.
SPM has won a license for exploiting a stone mine of over 13 million cubic meters in the northern Yen Bai Province.
This year it expects profits of VND130 billion, up from 2009's VND62 billion.
The Ha Noi-based TNT has a charter capital of VND85 billion and operates in areas of real estate business, mining and environmental services.
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