Ninh Hoa Sugar Joint Stock Company (NSC) will become a listed firm onthe HCM Stock Exchange on July 2.
The firm, basedin central province of Khanh Hoa, will have a reference price of 35,000VND (1.8 USD) for its 8.1 million shares.
Foreigninvestors will have an opportunity to hold shares as to date none ofthem are shareholders. The cap limit for foreigners is 49 percent.
Currently the company has 5,200ha of sugar cane plantationsand targets to enlarge that to 7,500ha by 2015.
NSCis investing in production capacity to increase to 3,000 tonnes ofsugar cane per day in 2011 from the current 2,400 tonnes.
The company will also use post production materials to makefertilizer, with a 25,000-tonne NPK fertilizer production line expectedto begin operation next year.
Another line producingbetween 5,000 and 7,000 tonnes of bio-fertiliser will be operational in2012.
Sugarcane refuse will be used to generatepower, according to company director Nguyen Thi Hoa.
Last year NSC earned a net profit of more than 64 billion VND, morethan twice the 2008, mainly due to increased sugar prices.
The company has set this year’s net profit goal of 34 billionVND. The first quarter profit reached 22 billion VND.
Shareholders will receive 20 percent dividends this year, as they didin 2009./.
The firm, basedin central province of Khanh Hoa, will have a reference price of 35,000VND (1.8 USD) for its 8.1 million shares.
Foreigninvestors will have an opportunity to hold shares as to date none ofthem are shareholders. The cap limit for foreigners is 49 percent.
Currently the company has 5,200ha of sugar cane plantationsand targets to enlarge that to 7,500ha by 2015.
NSCis investing in production capacity to increase to 3,000 tonnes ofsugar cane per day in 2011 from the current 2,400 tonnes.
The company will also use post production materials to makefertilizer, with a 25,000-tonne NPK fertilizer production line expectedto begin operation next year.
Another line producingbetween 5,000 and 7,000 tonnes of bio-fertiliser will be operational in2012.
Sugarcane refuse will be used to generatepower, according to company director Nguyen Thi Hoa.
Last year NSC earned a net profit of more than 64 billion VND, morethan twice the 2008, mainly due to increased sugar prices.
The company has set this year’s net profit goal of 34 billionVND. The first quarter profit reached 22 billion VND.
Shareholders will receive 20 percent dividends this year, as they didin 2009./.
