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Screw manufacturer plans HOSE listing

Oct 5th at 10:38
05-10-2017 10:38:43+07:00

Screw manufacturer plans HOSE listing

Seoul Metal Vietnam Joint Stock Company (SMVC) is completing essential documents to seek a listing on the HCM Stock Exchange, expected to start trading this October, the company has announced.

 

Founded in 2008, the company has a charter capital of VND145 billion (US$6.4 million), equivalent to 14.5 million shares. China-based Seoul Metal (H.K) Co Ltd, a subsidiary of Global SM Tech Ltd, is the biggest stakeholder with a 30.98 per cent, while its parent company holds 14.41 per cent.

State Capital Investment Corporation (SCIC) and EVN Finance own 10.65 per cent and 6.37 per cent, respectively.

SMVC manufactures nails and micro screws for production of mobile phones, printers and cameras. Its largest client is Samsung, which accounts for 75 per cent of its revenue, followed by another Korean company, LG, with 11 per cent.

SMVC’s CEO Cha Gyun Young said during a roadshow on Monday that the listing is designed to help the company increase the localisation rate in production and mobilise capital for its expansion plan, including buying machines and enlarging business scale.

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