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PMP to list on HNX
On September 22, Phu My Urea Fertiliser Package Jsc., a subsidiary of the PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo), will officially debut its shares on the northern Hanoi Stock Exchange (HNX).
Under the code PMP, 4.2 million shares will be available for trade at initial reference price of VND16,500 ($0.76) each piece.
Being established in 2008, PMP is currently owned by two institutional shareholders namely the PVFCCo and Huong Phong Ltd., by the ratio of 43.34 per cent : 40 per cent.
PMP is specialised in producing and trading plastic packages (PP), PK, polyethylene (PE) packaging products, in which fertiliser/agricultural bags contributes over 50 per cent of the firm’s annual revenue since 2013.
Products are distributed domestically and to many foreign markets including Chile, Brazil, US, Costa Rica, France, Portugal and Southeast Asian countries.
Revenue finalised $8.6 million and $10.45 million for 2013 and 2014, respectively. Return on equity (ROE) for the two year was 17.8 and 17.52 per cent. This year, PMP targets VND245.5 billion ($11.26) in revenue, up nearly 8 per cent on-year and dividend pay-out ratio of 18 per cent.
Earlier in late-July, two other members of the PVFCCo group also debuted their shares on HNX, namely PVFCCo Central (code PCE) and PVFCo South West (code PSW).
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