HÀ NỘI — Hà Nội Stock Exchange has approved Garment 10 Corporation Joint Stock Company (GARCO 10) to list 18.9 million shares on Unlisted Public Company Market (UPCoM) on January 10.

The reference price for its shares, which will be listed under stock code M10, will begin at VNĐ22,800 (US$1) per share, equivalent to market capitalisation of some VNĐ431 billion.

Founded in 1946, GARCO 10 specialises in manufacturing different kinds of garments and auxilliary material for its dressmaking branch.

In January 2004, Garment 10 officially operated as a joint stock company under Việt Nam National Textile and Garment Group. Currently, the company owns 11 factories from Hà Nội to QuảngBình Province.

In September 2017, the corporation increased its chartered capital to VNĐ189 billion, equivalent to 18.9 million registered shares, of which 939,960 shares are subject to transfer restriction.

The firm’s consolidated net revenue in 2016 reached more than VNĐ2.92 trillion, up VNĐ210 billion compared to 2015, of which two main sources of revenue were sales and outsourcing. In the first nine months of 2017, the company’s revenue reached nearly VNĐ2.25 trillion.

In 2016, GARCO 10 posted an after-tax profit of nearly VNĐ60 billion. In the first three quarters of 2017, its after-tax profit reached VNĐ40 billion.

The total assets of GARCO 10 as of September 30, 2017 reached VNĐ1.15 trillion, total liabilities were VNĐ790 billion, while the owner’s equity reached VNĐ357.3 billion.

In addition to this, GARCO 10 has more than VNĐ45 billion of undistributed after-tax profit, more than VNĐ76 billion in development investment fund and over VNĐ46 billion of capital surplus. — VNS