Wednesday, January 23 2019

VietNamNews

Viglacera gets approval to list shares

Update: January, 04/2019 - 04:00
A worker checking the quality of Cotto floor tiles at Viglacera Halong JSC in the northern province of Quảng Ninh. — VNA/VNS Photo Thế Duyệt
Viet Nam News

HÀ NỘI — The Hồ Chí Minh Stock Exchange (HoSE) has approved the listing of the State-owned glass and construction ceramics producer Viglacera on the southern bourse.

Viglacera will list 448 million shares on the southern market with the code VGC – the same ticker it has on the Hà Nội Stock Exchange (HNX).

The total value of the listed shares is VNĐ4.48 trillion (US$191.6 million).

The HoSE listing will help Viglacera increase its stock liquidity and facilitate the Ministry of Construction’s sale of its 54 per cent stake in the firm during the first quarter of this year.

The change of listing will also help Viglacera’s shares attract more attention from investors.

In 2018, the company earned VNĐ600 billion ($26.1 million) in pre-tax profit, up 6 per cent against 2017.

On Thursday, VGC shares on the HNX ended trading up 1.15 per cent, settling at VNĐ17,600 per share.

Viglacera was established in 1974 under a decision by the Ministry of Construction. In 2014, the company was equitised with a charter capital of VNĐ2.64 trillion ($115 million). — VNS

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