Return of the Shrimp King
Việt Nam’s shrimp king Minh Phú Seafood Corporation (MPC) began trading 70 million shares on the UPCoM on Monday at a reference price of VNĐ79,000 (US$3.48) per share, equivalent to market capitalisation of VNĐ5.5 trillion ($242.3 million).
Minh Phú is one of the two largest seafood exporters in Việt Nam. Its total export turnover reached over $530 billion in 2016.
Two years ago, the seafood firm voluntarily cancelled the listing to issue additional shares to strategic shareholders. However, the delisting did not help in raising more capital and its business declined, incurring a loss of VNĐ7 billion in 2015. It rebounded with profits of VNĐ82 billion in 2016 and revenue of nearly VNĐ12.1 trillion.
The company’s return to the stock market is part of an ambitious business plan. It has targeted consolidated revenue of VNĐ15.8 trillion and net profit of VNĐ841 billion in 2017, a 10-fold increase over the previous year. It earned VNĐ159 billion in profits in the first half the year.
Hoàng Liên Sơn Technical Ceramics JSC (HLS)
Also on Monday, Hoàng Liên Sơn Technical Ceramics JSC debuted its entire 5.44 million shares on the UPCoM at a reference price of VNĐ16,800 per share.
Established in 1980, the Yên Bái-headquartered company specialises in designing, manufacturing and supplying various types of porcelain insulators and technical porcelain/ceramic products.
The company was equitised in 2014 with initial charter capital of VNĐ8.5 billion, of which the State held 56 per cent stake. State shareholders divested the entire amount by June 2016.
It reported net profit of over VNĐ18 billion last year, down 34 per cent year-on-year. The firm has targeted revenue of VNĐ110 billion and net profit of VNĐ22 billion in 2017. The company paid high dividend rate of between 40 and 70 per cent in the last four years.
Vietnam Industrial Construction Corp (VVN)
On Tuesday, Vietnam Industrial Construction Corp (VVN) will trade 55 million shares on the UPCoM. The Ministry of Industry and Trade holds 82.75 per cent stake in this firm.
The company reported revenue of over VNĐ6 trillion in both 2014 and 2015, but it incurred losses of VNĐ148 billion in 2014 and VNĐ346 billion in 2015. It returned to surplus last year with net profit of over VNĐ506 billion last year.
An Giang Power And Water Supply JSC (DNA)
Nearly 48.7 million shares of An Giang Power And Water Supply will begin trading on October 19 with a reference price of VNĐ13,500 apiece.
The company officially operated as a joint stock company in March 2011 with charter capital of VNĐ486.6 billion. As of June 2017, An Giang People’s Committee is the only major shareholder with 90.12 per cent ownership.
Its revenue mainly comes from electricity supply, accounting for over 70 per cent of its annual revenue, while water supply sales make up 24-26 per cent.
Last year, the company reported total revenue of over VNĐ1.3 trillion and net profit of VNĐ102 billion. by Vietnamnews.