Hai Phong-based Tien Phong Plastics Company, one of the plastics giants in Vietnam has reported gaining the approval from the State Securities Committee (SSC) to list through the Hanoi Securities Transaction Centre. This will be the third plastics company to be listed on the Vietnamese securities market after Binh Minh and Da Nang Plastics.
Accordingly, Tien Phong Plastics will be allowed to list 14,446,000 ordinary shares.
The company has the largest market share and a chartered capital in the plastics sector of 114.6 billion dong, of which 37.1% belongs to the state, the remainder of 62.9% being held by other shareholders.
The company is specialised in the production and trading of civil plastic products and technical plastic products to serve the construction, industry, transport and agriculture industries.
Tien Phong Plastics has the highest capacity in the country with 25,000 tonnes a year more than the 21,000 tonnes of Binh Minh Plastics.
In the January-September period, the company earned over 500 billion dong in revenue with an output of about 20,000 tonnes of products or 15% year-on-year rise.