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Tour company to list on Ha Noi exchange
The Ha Noi Stock Exchange has given the green light to Ocean Hospitality and Service Joint Stock Company to list 100 million shares.
The shares, which will be listed under the code OCH, will debut on October 1, 2010
"The share listing will enhance our financial capacity to implement large-scale real estate projects nationwide," said the company's general director Ta Thanh Thuy.
"Many foreign and domestic investors have shown their interest in investing in our company. We are on the way to choose suitable strategic partners," Thuy said.
Top priority will be given to investors with strong financial capacity and rich management experience in the hotel and tourism industry, she added.
The company, a subsidiary of Ocean Group, has a charter capital of VND1 trillion (US$52.6 million). Its business interests include hospitality, hotels, restaurants, real estate, infrastructure, housing and food processing.
The company has co-operated with leading global design and hospitality management groups in constructing 4-5 star hotels under the StarCity trademark. Among these are the StarCity Westlake Ha Noi, Novotel StarCity Hoi An Resort, StarCity Nha Trang Hotel, StarCity Nha Trang Hotel, StarCity Sai Gon Hotel and StarCity Airport Hotel.
Novotel StarCity Hoi An Resort and StarCity Sai Gon Hotel are scheduled to open this year.
The group posted a pre-tax profit of VND86.7 billion ($4.6 million) in the first half of this year and is targeting a pre-tax profit of VND163 billion ($8.6 million) by the year-end.
In response to the huge potential of the real estate and tourism sectors the company plans to continue pumping investment in these key areas, Thuy said.
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