Tuesday, December 11 2018

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Sông Hồng Garment to debut on HoSE in late November

Update: November, 22/2018 - 16:34
A Sông Hồng Garment factory at the Yên Lập Industrial Zone in the northern province of Phú Thọ. — Photo baophutho.com.vn
Viet Nam News

HÀ NỘI — The Hồ Chí Minh Stock Exchange (HoSE) has approved the listing of Sông Hồng Garment Joint Stock Company on the southern bourse.

Sông Hồng Garment JSC will debut on HoSE on November 28 by listing more than 47.6 million shares with the code MSH, the market said in a statement on Tuesday.

The company will start trading at the price of VNĐ45,000 (US$2) per share, making its market capitalisation up to VNĐ2.14 trillion ($95.25 million) on the debut day.

The company’s shares are able to increase or decline within a daily band of 20 per cent on the debut day, meaning its price may rise as high as VNĐ54,000 or fall as far as VNĐ36,000 by the end of the debut.

The company, headquartered in the northern province of Nam Định, produces garment products for both domestic and overseas markets and was founded in 1988.

As of October 1, the company had 511 shareholders including four institutional investors and 507 individuals.

From 2014 to 2017 the company’s profit kept increasing from VNĐ142 billion to VNĐ200.4 billion. In the first nine months of 2018, the company recorded nearly VNĐ3 trillion in net revenue – a yearly increase of 21 per cent – and VNĐ273 billion in net profit – a yearly growth of 100 per cent.

From 2015 to 2017, the company paid 45 per cent dividend in cash each year. The cash dividend payout rate is planned at 35-40 per cent for 2018 and 35 per cent from 2019.

Sông Hồng Garment JSC targets a 7 per cent year-on-year revenue rise for 2018, to land at VNĐ3.5 trillion. Its profit gained 15 per cent to VNĐ230 billion. — VNS

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