PVFCCo Central lists on HNX
PVFCCo Central lists on HNX
PVFCCo Central, a subsidiary of the PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo), officially listed on the Ha Noi Stock Exchange (HNX) on July 23.
The first 10 million shares with the code PCE were listed at VND15,000 (US$0.68) each.
PVFCCo Central trades in fertilizer and chemicals in the Central and Central Highlands regions of Viet Nam, which are hubs for coffee and pepper cultivation and account for the consumption of 1.7 million tonnes of fertilizer.
Set up in the central Binh Dinh Province seven years ago, the company operates in 11 provinces in the two regions. It has a storage capacity of 60,000 tonnes.
The company expects to earn revenue of VND2.168 trillion ($99.2 million) and profit before tax of VND19.5 billion ($893,000) this year.Le Cu Tan, Chairman of PVFCCo, which holds a 75 per cent stake in PVFCCo Central, said the listing would promote the company's business and benefit its employees.
In the first day's trading, the shares jumped to VND17,000 ($0.77) each on the HNX.
