First gold firm joins securities market

11-Jan-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

Lao Cai Gold JSC on January 9 listed 10.5 million shares, valued at a total of VND105 billion, for the first time on the market for unlisted public companies (UPCoM), using the stock code GLC.

The firm, which has charter capital of VND105 billion, is the first gold-mining enterprise in Vietnam to list its shares on the market. The starting price is VND10,000 per share.

After 12 years of development, the firm, located in Van Ban District in the northern upland province of Lao Cai, is the investor of a project to mine, extract and refine gold in the province, which has been put into service for five years.

The provincial government permits the firm to mine a maximum of 100,000 tonnes of crude ore per year to turn out 300-500 kilograms of gold per year.

In 2018, the company earned VND102 billion in revenue and its after-tax profit amounted to VND5.6 billion.


Category: Stocks, Vietnam

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