Illustrative image (Source: VNA)
The stocks of three subsidiaries of large State-owned corporations were traded on September 24 on the unlisted public company market (UPCoM).
The trading was part of the Vietnamese government's plan to equitise State-owned enterprises (SOEs). Before being listed on the local stock market, shares have to be traded in the local UPCoM.
On the first trading day, Cam Ranh Port JSC, a subsidiary of the Vietnam National Shipping Lines, traded more than 24.5 million shares under the code CCR at a reference price of 10,200 VND (0.45 USD).
Spanning 89ha, the port handles cargo, warehouses and freight yards, cargo storage and shipping and road transport, besides a shipping agency, ship chandlers and other services.
Cam Ranh Port, with an initial charter capital of 245 billion VND (10.88 million USD) in 2015, plans to raise it to 3,339 billion VND (14.8 million USD) by 2018. It also aims to earn 137 billion VND (6.09 million USD) in revenue this year, and raise it to 2,233 billion VND (9.92 million USD) by 2018.
Meanwhile, 1.89 million shares of Uong Bi Electrical and Engineering JSC (UEM), a subsidiary of the Vietnam National Coal, were also traded at a reference price of 12,400 VND (0.55 USD) each.
UEM, spread over 10,000sq.m in northern Quang Ninh province, mostly supplies equipment and facilities for the coal industry.
Last year, UEM earned the revenue of 134.1 billion VND (5.96 million USD) and the after-tax profit of 3.9 billion VND (173,333 USD).
The Song Da Investment Construction and Fire Prevention JSC, belonging to the Song Da Group, also traded 2.25 million shares under the code SDX at a reference price of 8,700 VND (0.38 USD) each.
SDX specialises in supplying and installing fire prevention equipment and facilities for construction works in Vietnam.
Last year, it achieved net sales worth 30.8 billion VND (1.38 million USD).-VNA
