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Lào Cai Gold JSC to trade on UPCoM

Update: December, 27/2018 - 17:00
Minh Lương mine gold, which is managed by Lào Cai Gold JSC. — Photo
Viet Nam News

HÀ NỘI — The Lào Cai Gold JSC has gained approval from the Hà Nội Stock Exchange to trade its 10.5 million shares on the Unlisted Public Company Market (UPCoM), making it the first gold miner to trade on the Vietnamese equity market.

The decision was announced on Tuesday. Lào Cai Gold JSC will trade with code GLC.

The debut date for the firm remains unknown.

Lào Cai Gold JSC was founded in September 2017 and is headquartered in Lào Cai Province’s Văn Bàn District.

The company’s initial charter capital was VNĐ45 billion and it had five shareholders at the beginning.

Lào Cai Gold JSC has increased its charter capital to VNĐ105 billion (US$4.6 million).

The biggest shareholders are the Vietnam National Coal and Minerals Group (Vinacomin or TKV) and its subsidiary Vinacomin Minerals Holding Corporation (Vimico), holding 33 per cent and 27 per cent of the firm’s capital, respectively.

Other shareholders include Lào Cai Minerals JSC (15 per cent of charter capital), Thái Nguyên Co Ltd (15 per cent) and Đông Bắc Company (10 per cent).

The core business of Lào Cai Gold JSC is to explore and exploit the Minh Lương gold mine with annual gold production of 500 kilogrammes. — VNS

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