Viglacera to increase charter capital to $137m this year
Viglacera to increase charter capital to $137m this year
State-owned Viglacera Corporation approved a plan to raise its charter capital to VND3.07 trillion (US$137.4 million) from VND2.64 trillion at the annual meeting on April 26. In addition, the ceramic building material producer will decrease State-owned capital from 91.5 to 75 per cent, as approved by the Ministry of Construction in 2014, as well as register trade or list shares on the stock market by the last quarter of 2016.
In 2015, the company started trading its 264.5 million shares in the unlisted public company market on the Ha Noi Stock Exchange (HNX) with a preference price of VND10,600 each.
In 2014, Viglacera sold nearly 19.5 million shares at an initial public offering (IPO) on HNX. The company earned more than VND200 billion from the IPO.Viglacera's profit before tax in 2015 reached VND524.275 billion, 80 per cent higher than its target, and revenue in 2015 was VND8 trillion.
As of December 31, 2015, Viglacera's total assets reached VND8.77 trillion, 10 per cent lower than the beginning of last year.
Chairman of the company's member board Luyen Cong Minh said at the company's annual meeting that the company this year will focus on investing in high-tech and environmental projects such as energy-saving glasses and clinker bricks.
The corporation is targeting revenue and pre-tax profits of VND8.2 trillion and VND560 billion this year, respectively.
