Rubber group to move listing from UPCoM to HoSE
Rubber group to move listing from UPCoM to HoSE
The Vietnam Rubber Group JSC (GVR) will move four billion of its shares listing on the Unlisted Public Company Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE).
The last trading session of GVR on UPCoM is March 6, 2020.
The company offered 475.1 million shares in an initial public offering (IPO) a year ago. As a result, only 499 investors registered to buy nearly 101 million shares, accounting for more than one fifth of the offered shares.
The average successful auction price was VND13,011 (US$0.56) per share. GVR collected VND1.3 trillion through the IPO.
The group soon after that registered to list more than 99 million shares on the UPCOM. The number of shares registered for trading only accounts for a small part of the total number of the company’s shares.
More than a year later, in early July 2019, the Ha Noi Stock Exchange approved the register of trading for another 3.9 billion GVR shares on the UPCoM, bringing the total number of shares trading on the stock market to four billion.
As of December 20, 2019, GVR has only one major shareholder, which is the Committee for Management of State Capital at Enterprises, which holds 96.77 per cent of the charter capital.
On the stock market, the price of GVR shares are traded at VND12,600 per share, an increase of more than 25 per cent since the beginning of the year.
The company's revenue in 2019 reached VND20 trillion, meeting only 83 per cent of the yearly plan. Post-tax profit reached VND3.99 trillion, fulfilling 96 per cent of the year's profit target assigned by the General Meeting of Shareholders.
