Vietnam Rubber Group today, March 17 started trading four billion shares on the Hochiminh Stock Exchange (HOSE) under the code GVR at the reference price of VND11,570 per share.
The GVR shares had earlier been traded on the Market for Unlisted Public Companies (UPCoM).
The move is expected to open a wider door for the firm to attract more investors and help solidify its position on the local market.
The main business operations of GVR, a large-scale State-run enterprise, are to grow and process rubber, produce various products from rubber, process wood products, develop industrial park infrastructure and invest in the hi-tech agricultural field.
In 2019, the group reported its consolidated revenue at an estimated VND23.1 trillion, up 0.64% against 2018, and its after-tax profit rose by 19.7% at VND3.9 trillion.
The group looks to obtain over VND24.6 trillion in consolidated revenue and VND4 trillion in after-tax profit this year.
