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IT firm to list on HCM City exchange
The Electronics Communications Technology Investment Development Corporation (Elcom Corporation) will list on the HCM City Stock Exchange on Wednesday, offering more choices to investors.
Coded as ECL, the company's reference price was set at VND50,500 (US$2.6).
ECL has charter capital of VND221.25 billion, equal to 22.125 million shares, with executive members holding 34 per cent, who have committed to maintain their ownership by 2018, according to chairman Phan Chien Thang.
Foreign investors represent almost 3 per cent of the total shares.
The company plans to increase its capital to VND325 billion this year and VND375 billion by the end of 2011.
ELC's main operations are providing hardware and software solutions in the areas of electronics and telecommunications. Its main customers are the mobile phone network operators such as Vinaphone, MobiFone and Viettel.
Its partners include Sun, IBM, Benning and Nokia Siemens Network.
The bank's other activities include real estate business, design and construction.
The company gained an average growth rate of 97 per cent in turnover and 107 per cent in profit in the past four years.
Last year it recorded turnover of VND707 billion and net profit of more than VND90 billion, up 119 and 144 per cent respectively compared to 2008.
For this year, the bank targets reaching a turnover of VND1.15 trillion and net profit of VND159 billion.
This year's cash dividends are expected to be no less than 30 per cent.
vietnamnews
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