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Cam Ranh Port gets the go-ahead for UPCoM listing

Update: September, 12/2015 - 09:35

HA NOI (VNS)— Cam Ranh Port JSC has received permission to list 24.5 million shares on the UPCoM market under the code CCR, the Ha Noi Stock Exchange announced yesterday.

Under current regulations, before the official listing the company should be traded as an unlisted public company (UPCoM).

The registered shares make up 100 percent of the shares of the port, with 80.9 per cent being owned by the Viet Nam National Shipping Lines (Vinalines), 14.27 per cent owned by Phu Xuan Construction and Consultant JSC, and 4.83 per cent owned by the port staff and other shareholders.

Included in the Government plan of equitisation of the State-owned ports, the port made its initial public offering (IPO) in March on the Ha Noi Stock Exchange.

The port, formerly known as Ba Ngoi port, is an international commercial port in Cam Ranh Bay in Khanh Hoa province. It has favorable natural conditions for the development of additional port services. Also, it is only 1.5 km from National Highway 1A and 3 km from the North – South railway line. The port has also been an important waterway connection between the province of Khanh Hoa and neighboring provinces.

Spanning 89 ha, the port operates cargo handling, warehouses and freight yards, cargo storage, shipping and road transport, a shipping agency, ship chandler, and other services.

Cam Ranh Port had initial charter capital of VND245 billion (US$10.88 million) in 2015 and plans to raise this capital to VND333.9 billion ($14.8 million) by 2018. It also has targeted revenues of VND137 billion ($6.09 million) this year, rising to VND223,3 billion ($9.92 million) by 2018.

HNX has not yet set a date for the listing. — VNS

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