Ninh Hoa Sugar Joint Stock Company (NSC) will become a listed firm on the HCM Stock Exchange on July 2.
The firm, based in central province of Khanh Hoa, will have a reference price of 35,000 VND (1.8 USD) for its 8.1 million shares.
Foreign investors will have an opportunity to hold shares as to date none of them are shareholders. The cap limit for foreigners is 49 percent.
Currently the company has 5,200ha of sugar cane plantations and targets to enlarge that to 7,500ha by 2015.
NSC is investing in production capacity to increase to 3,000 tonnes of sugar cane per day in 2011 from the current 2,400 tonnes.
The company will also use post production materials to make fertilizer, with a 25,000-tonne NPK fertilizer production line expected to begin operation next year.
Another line producing between 5,000 and 7,000 tonnes of bio-fertiliser will be operational in 2012.
Sugarcane refuse will be used to generate power, according to company director Nguyen Thi Hoa.
Last year NSC earned a net profit of more than 64 billion VND, more than twice the 2008, mainly due to increased sugar prices.
The company has set this year’s net profit goal of 34 billion VND. The first quarter profit reached 22 billion VND.
Shareholders will receive 20 percent dividends this year, as they did in 2009./.
The firm, based in central province of Khanh Hoa, will have a reference price of 35,000 VND (1.8 USD) for its 8.1 million shares.
Foreign investors will have an opportunity to hold shares as to date none of them are shareholders. The cap limit for foreigners is 49 percent.
Currently the company has 5,200ha of sugar cane plantations and targets to enlarge that to 7,500ha by 2015.
NSC is investing in production capacity to increase to 3,000 tonnes of sugar cane per day in 2011 from the current 2,400 tonnes.
The company will also use post production materials to make fertilizer, with a 25,000-tonne NPK fertilizer production line expected to begin operation next year.
Another line producing between 5,000 and 7,000 tonnes of bio-fertiliser will be operational in 2012.
Sugarcane refuse will be used to generate power, according to company director Nguyen Thi Hoa.
Last year NSC earned a net profit of more than 64 billion VND, more than twice the 2008, mainly due to increased sugar prices.
The company has set this year’s net profit goal of 34 billion VND. The first quarter profit reached 22 billion VND.
Shareholders will receive 20 percent dividends this year, as they did in 2009./.
