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[Oct 2006]
Ceramic Companies Join Vietnamese Stock Exchange
VNA (Hanoi, Vietnam) reports that two companies that make ceramic building materials became the first of their type to be listed on the stock market, as their shares recently began official trading at the Ha Noi Securities Trading Centre.
The two companies, Viglacera Tu Son Ceramic Joint Stock Co and Dong Anh Building Ceramic Joint Stock Co, are affiliates of the Viet Nam Glass and Ceramics for Construction Corporation (Viglacera).
Coded VTS on the stock exchange, one million shares of Viglacera Tu Son Ceramic began trading at a face value of VND10,000 (US$0.62) per share. Dong Anh Ceramic put 750,000 shares, coded DAC, into trading at the same face value.
Tu Son Viglacera began trading with 157 existing shareholders and a chartered capital of VND10 billion (US$625,390) with the State holding 25% and staff holding 32.75%. The remainder belonged to outside investors.
Tu Son company expects to gross VND46 billion (US$2.87 million) and earn after-tax profits of VND5 billion (US$312,700) this year, double that of last year. Shares are expected to pay a dividend rate of 17%, said the report.
Dong Anh company, with chartered capital of VND7.5 billion (US$469,000), expects to earn revenue of VND28 billion (US$1.75 million) this year and VND28.5 billion (US$1.78 million) in 2007.
Currently, the company’s employees hold 32.7% of shares and outside investors 16.3%. The company is planning to reduce the State stake from 51% to 26%, according to the report.
Four other affiliates of Viglacera were expected to list shares for trading at the centre by the end of the year, according to a Viglacera representative.
ENDS