Tan Cang Song Than to list on UPCoM
Tan Cang Song Than to list on UPCoM
Ha Noi Stock Exchange has accepted Inland Clearance Depot Tan Cang Song Than LLC (Tan Cang Song Than)’s proposal to list over 12 million shares on its Unlisted Public Company Market (UPCoM).
The company will be listed under the stock symbol IST.
It will also be liable to publish all the information for its shareholders in compliance with the laws.
Saigon New Port Corporation is currently Tan Cang Song Than’s largest shareholder with 51 per cent of charter capital.
Tan Cang Song Than was previously a container parking space used by the Saigon Military Port in 1995 and was a mainland clearance depot since 2000. In 2007, it was upgraded to a one member limited liability company and was financially independent in a branch and holding company model with initial charter capital of VND80 billion (US$3.615 million).
The company had its initial public offering session in March 2016, with 960,694 shares sold at an average of VND10,608 per share.
In June, Tan Cang Song Than officially operated as an incorporated company with charter capital of VND120 billion and has yet to increase the said capital.
The company now specialises in storage, transportation and related services.
As of September 27, 2016, Tan Cang Song Than had 200 stock holders, with two major holders holding 86.25 per cent of total charter capital.
Tan Cang Song Than has a total area of 387,870sq.m, including 205,000sq.m of storage. The majority of its revenue comes from leasing the storage space, followed by the storage and transportation fee.
