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SOEs shares begin trading

Update: September, 25/2015 - 10:29

Uong Bi Electrical and Engineering JSC spreads over 10,000sq.m in the northern Quang Ninh Province. — Photo nangluongvietnam.vn

HA NOI (VNS) — The stocks of three subsidiaries of large State-owned corporations were traded yesterday 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 Viet Nam National Shipping Lines, traded more than 24.5 million shares under the code CCR at a reference price of VND10,200 (US$0.45).

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 VND245 billion (US$10.88 million) in 2015, plans to raise it to VND3,339 billion ($14.8 million) by 2018. It also aims to earn VND137 billion ($6.09 million) in revenue this year, and raise it to VND2,233 billion ($9.92 million) by 2018.

Meanwhile, 1.89 million shares of Uong Bi Electrical and Engineering JSC (UEM), a subsidiary of the Viet Nam National Coal, were also traded at a reference price of VND12,400 ($0.55) each.

UEM, spread over 10,000sq.m in the northern Quang Ninh Province, mostly supplies equipment and facilities for the coal industry.

Last year UEM earned the revenue of VND134.1 billion ($5.96 million) and the after-tax profit of VND3.9 billion ($173,333).

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 VND8,700 ($0.38) each.

SDX specialises in supplying and installing fire prevention equipment and facilities for construction works in Viet Nam.

Last year, it achieved net sales worth VND30.8 billion ($1.38 million). — VNS

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