Auto maker Truong Hai Group, which assembles the KIA range of cars amongother vehicles, has retained Sacombank Securities Company as aconsultant to advise on stock market listing.
Thejoint-stock company is expected to list by October, thus improving theliquidity of its 200 million outstanding shares.
Accordingto vice chairman Nguyen Hung Minh, a number of existing shareholderswill reduce their holdings by selling 9.2 million equities to enlargethe company's shareholder community.
The group, which has acharter capital of 2 trillion VND (105 million USD), has several majorshareholders including Sacombank, Prudential Insurance, and JardineCycle and Carriage.
The company, the only Vietnamesemanufacturer and assembler to make the entire range of passengervehicles from cars to buses as well as trucks, was established in 1997and became joint stock in 2007, when its charter capital was 450 billionVND, annual sales was more than 12,000 vehicles, and net profit was 240billion VND.
Last year it sold 21,500 units and reported aprofit of 723 billion VND.
This year it targets sales of28,000 units and VND850 billion net profit. In the first half it sold11,100 units for a market share of over 22 percent.
TruongHai has 12 factories and 25 showrooms, and has a network of 44 dealers./.
Thejoint-stock company is expected to list by October, thus improving theliquidity of its 200 million outstanding shares.
Accordingto vice chairman Nguyen Hung Minh, a number of existing shareholderswill reduce their holdings by selling 9.2 million equities to enlargethe company's shareholder community.
The group, which has acharter capital of 2 trillion VND (105 million USD), has several majorshareholders including Sacombank, Prudential Insurance, and JardineCycle and Carriage.
The company, the only Vietnamesemanufacturer and assembler to make the entire range of passengervehicles from cars to buses as well as trucks, was established in 1997and became joint stock in 2007, when its charter capital was 450 billionVND, annual sales was more than 12,000 vehicles, and net profit was 240billion VND.
Last year it sold 21,500 units and reported aprofit of 723 billion VND.
This year it targets sales of28,000 units and VND850 billion net profit. In the first half it sold11,100 units for a market share of over 22 percent.
TruongHai has 12 factories and 25 showrooms, and has a network of 44 dealers./.
