Viglacera to list shares on HoSE in mid-February

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

Once completed the listing, the Ministry of Construction (MoC) would proceed with the divestment of its entire 54 percent stake in the company.

State-run ceramics and building material corporation Viglacera is scheduled to move its share listing from the Hanoi Stock Exchange (HNX) to the HCM City Stock Exchange (HoSE) in mid-February after receiving the HoSE’s approval, stated the firm.

With a par value of VND10,000 (US$0.43), the total value of the 448 million shares in subject is VND4.48 trillion (US$193.20 million). Once completed the listing, the Ministry of Construction (MoC) would divest its entire 54 percent stake in the company.

In 2018, the MoC was supposed to divest a 17.97 percent stake in Viglacera, however, the move failed to materialise due to unfavourable market conditions.

Viglacera posted s profit of VND606 billion (US$26.14 million) in 2018, exceeding the year’s target, and consolidated revenue of VND17 trillion (US$733.56 million).

Established in 1974 and undergoing privatisation in 2014, Viglacera’s charter capital has increased to nearly VND4.48 trillion (US$193.20 million) as of present. The Hanoi-based firm is Vietnam’s largest producer of ceramics and tiles for construction, owning 10 factories, 22 subsidiaries and five affiliate companies, it claims.

Viglacera earned VND200 billion (US$9.3 million) from the IPO in late 2016, after which, the well-known ceramic producer targeted to list shares within one year.

http://www.hanoitimes.vn/investment/news/2019/01/81E0D1C9/viglacera-to-list-shares-on-hose-in-mid-Feb/

 


Category: Stocks, Vietnam

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