Three more companies trade on UPCoM

The Infrastructure Development and Construction Corporation officially began trading 90 million shares on the Unlisted Public Company Market at a starting price of 4,900 VND per share on June 5.

Illustrative image (Source: VNA)

Hanoi (VNA) – The Infrastructure Development and Construction Corporation (Licogi) officially began trading 90 million shares on the Unlisted Public Company Market (UPCoM) under the stock code LIC at a starting price of 4,900 VND (22 US cents) per share on June 5.

In April 2015, the corporation sold nearly 21.3 million shares during its initial public offering (IPO) at a starting price of 10,000 VND per share.

The equity auction saw positive results, with the entire offering being sold to 106 individual investors. It brought in more than 212.8 billion VND (9.3 million USD) and increased the company’s charter capital to 900 billion VND (39.6 million USD) following the equitisation.

However, in 2016, Licogi reported a net loss of 293.4 billion VND, a negative cash flow of 142 billion VND and total short-term debt in excess of current assets by 803.5 billion VND.

This year, the corporation set a target of 931.4 billion VND in net revenue and 29.4 billion VND in after-tax profits.

On the same day, the Ho Chi Minh Museum Construction Company (HMS) and the Viettronics Binh Hoa Joint Stock Company (VBH) also began trading stocks on UPCoM at starting prices of 20,000 VND and 20,900 VND per share, respectively.-VNA

VNA