Viettel Post shares begin to be traded at UPCoM
Viettel Post shares begin to be traded at UPCoM
Viettel Post’s shares were traded for the first time on the Unlisted Public Company Market (UPCoM) on Friday.
By close, the price of the stock had risen to VND95,000 ($4.15) with buyers waiting to buy another one million shares.
The company had sold nearly 41.4 million shares at VND68,000 (US$3).
Last year, the company’s turnover rose by 37.6 per cent to over VND4 trillion ($174 million). Its profit before tax was VND213.5 billion ($9.3 million).
In the first half of this year, they were respectively VND1.9 trillion ($82.6 million) and VND147 billion ($6.4 million).
“Viettel Post’s success is thanks to combining electronic commerce with traditional postal services,” Tran Trung Hung, general director of the company, said.
It has 1,300 post offices around the nation and 17,000 staff.
It also offers international and domestic express delivery services, logistics and other related services.
Since July this year it has been managing 1,000 telecom shops and 6,000 delivery spots.
It is the only company to offer express delivery services to Cambodia and Myanmar.
“Viettel Post plans to dramatically change its operations, especially from express delivery to logistics,” Hung said.
“The strategic goals of Viettel Post are to become the first logistics company in Viet Nam with a turnover of $500 million and achieve 30 - 35 per cent market share by 2020.”
