Seaprodex to trade on UPCoM on December 23
Seaprodex to trade on UPCoM on December 23
Viet Nam Sea Products Import-Export Joint Stock Corporation (Seaprodex) will trade all its 125 million shares on the Unlisted Public Company Market (UPCoM) on December 23.
Seaprodex’s shares will be traded with code SEA, with price starting at VND11,400 per share, the Ha Noi Stock Exchange said in a statement that was released on Monday.
The company is among the leading companies in the fishery sector and has been in operation for 40 years. Its two core businesses are the processing of export sea products and commercial trading, which accounted for 54.75 per cent and 31.21 per cent, respectively, of Seaprodex’s total revenue in 2015.
Following the equitisation in December 2014, the sea products trader had chartered capital of VND1.25 trillion (US$55.5 million). Its two major shareholders were the Ministry of Agriculture and Rural Development (MARD) and representatives of Ha Noi Export-Import Company (Geleximco Group).
MARD held 79.2 million shares, or 63.38 per cent of Seaprodex’s capital, and Geleximco Group’s representatives owned 35 per cent of the company’s stake.
In 2016, there were some changes in the ownership organisation of Seaprodex, with the entry of Nova Bac Nam 79 Joint Stock Company, which purchased more than 25 million shares on June 14 to acquire a fifth of Seaprodex’s stake.
Meanwhile, some of the owners that are part of the Geleximco Group sold 10 per cent of their stake in Seaprodex to reduce their ownership in the firm to 15 per cent.
By December 31, 2015, Seaprodex had invested in 24 other companies for a total of VND950 billion, including three subsidiaries, nine joint ventures and 12 financial investment firms.
Seaprodex’s investments are the 59.34 per cent stake in Ha Noi Sea Products Import-Export JSC, a 50.78 per cent holding in Nam Can Sea Products Import-Export JSC and a 17.47 per cent ownership in Vietnamese-French Cattle Feed JSC (Proconco).
