Ca Mau Fertilizer stock to trade from March 31
Ca Mau Fertilizer stock to trade from March 31
Shares of PetroVietnam Ca Mau Fertilizer Co. Ltd. (code DCM) will start trading on the HCM City Stock Exchange (Hose) from March 31.
Based in the southern Ca Mau Province, the company is one of the leading fertilizer producers in Viet Nam and was approved for listing on the exchange last Friday.
When it starts officially trading on the exchange, the reference price will be set at VND14,500 (US$0.68) each, with a margin of 20 per cent.
The exchange said DCM was registered with a charter capital of VND5.294 trillion (US$74 million), equivalent to 529.4 million shares.
In December 2014, DCM had successfully sold about 129 million shares during its IPO at an average price of VND12,251 per share, earning VND1.58 trillion ($74 million). The shares' value, based on the IPO, accounted for 24.36 per cent of the company's capital.
The Viet Nam Oil and Gas Group PetroVietnam PVN currently holds a 75.56 per cent DCM's capital. As planned, PVN will reduce its ownership to 51 per cent by selling 24.36 per cent to a strategic partner. Japanese investor Mitsui & Co. Ltd., has been asked to be that strategic partner.
DCM produced 807,000 tonnes of urea fertiliser, achieving a turnover of VND6.246 trillion ($293 billion) in 2014.
