180m shares start trading on UPCoM this week
180m shares start trading on UPCoM this week
Nearly 180 million shares of four companies will start trading on the Unlisted Public Company Market (UPCoM) on the Ha Noi Stock Exchange on October 16-20.
Return of the Shrimp King
Viet Nam’s shrimp king Minh Phu Seafood Corporation (MPC) began trading 70 million shares on the UPCoM on Monday at a reference price of VND79,000 (US$3.48) per share, equivalent to market capitalisation of VND5.5 trillion ($242.3 million).
Minh Phu is one of the two largest seafood exporters in Viet Nam. Its total export turnover reached over $530 billion in 2016.
Two years ago, the seafood firm voluntarily cancelled the listing to issue additional shares to strategic shareholders. However, the delisting did not help in raising more capital and its business declined, incurring a loss of VND7 billion in 2015. It rebounded with profits of VND82 billion in 2016 and revenue of nearly VND12.1 trillion.
The company’s return to the stock market is part of an ambitious business plan. It has targeted consolidated revenue of VND15.8 trillion and net profit of VND841 billion in 2017, a 10-fold increase over the previous year. It earned VND159 billion in profits in the first half the year.
Hoang Lien Son Technical Ceramics JSC (HLS)
Also on Monday, Hoang Lien Son Technical Ceramics JSC debuted its entire 5.44 million shares on the UPCoM at a reference price of VND16,800 per share.
Established in 1980, the Yen Bai-headquartered company specialises in designing, manufacturing and supplying various types of porcelain insulators and technical porcelain/ceramic products.
The company was equitised in 2014 with initial charter capital of VND8.5 billion, of which the State held 56 per cent stake. State shareholders divested the entire amount by June 2016.
It reported net profit of over VND18 billion last year, down 34 per cent year-on-year. The firm has targeted revenue of VND110 billion and net profit of VND22 billion in 2017. The company paid high dividend rate of between 40 and 70 per cent in the last four years.
Vietnam Industrial Construction Corp (VVN)
On Tuesday, Vietnam Industrial Construction Corp (VVN) will trade 55 million shares on the UPCoM. The Ministry of Industry and Trade holds 82.75 per cent stake in this firm.
The company reported revenue of over VND6 trillion in both 2014 and 2015, but it incurred losses of VND148 billion in 2014 and VND346 billion in 2015. It returned to surplus last year with net profit of over VND506 billion last year.
An Giang Power And Water Supply JSC (DNA)
Nearly 48.7 million shares of An Giang Power And Water Supply will begin trading on October 19 with a reference price of VND13,500 apiece.
The company officially operated as a joint stock company in March 2011 with charter capital of VND486.6 billion. As of June 2017, An Giang People’s Committee is the only major shareholder with 90.12 per cent ownership.
Its revenue mainly comes from electricity supply, accounting for over 70 per cent of its annual revenue, while water supply sales make up 24-26 per cent.
Last year, the company reported total revenue of over VND1.3 trillion and net profit of VND102 billion.
