Viglacera gets approval to list shares

January 04, 2019 - 04:00

The Ho Chi Minh Stock Exchange (HoSE) has approved the listing of State-owned glass and construction ceramics producer Viglacera on the southern bourse.

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

Tags Vietnam Vietnam News news

Việt Nam, China ink protocol on railway transport cooperation

Economy

133 enterprises honoured with National Quality Awards 2021-2023

Economy

PM orders swift resolution of challenges for renewable energy projects

Economy

Việt Nam’s growth prospects remain resilient amid global challenges: forum

Economy

1,200 apartments in two projects in Hà Nội open for purchase by foreign nationals

Economy

Market declines for the third consecutive session

More on this story

Economy

Vân Đồn Economic Zone needs US$70.2 billion investment by 2050

Vân Đồn Economic Zone in northeastern Quảng Ninh Province needs US$70.2 billion by 2050 for its investment demands, according to the provincial People’s Committee.

Economy

SBV Centre issues first dollar-buying rate hike since Feb 2018

The State Bank of Việt Nam (SBV)’s Operations Centre has decided to adjust the reference exchange rate of the Vietnamese đồng against the US dollar for the first time since February 2018.

Economy

Government intensifies support for non-cash payment methods

The Government has issued measures to boost non-cash payment methods in the country this year.

Economy

Ministries step up price control and market management for Tết holiday

Minister of Finance Đinh Tiến Dũng has asked for enhanced price management to prevent any sudden cost hikes before, during or after the Tết (Lunar New Year) holiday in the beginning of February.

Economy

Đà Nẵng’s FDI projects worth $2.9 billion

The central city of Đà Nẵng granted new licences to 126 foreign direct investment (FDI) projects in 2018 with a total investment value of US$155.9 million – double the level it saw in 2017.

Economy

Solar plants face a consumption crisis

Việt Nam’s solar power plants are facing a crisis in consumption of their electricity because there has not been synchronous development of power transmission infrastructure or a suitable operation mechanism.

Economy

Realtors reject foreign purchase claim

The HCM City Real Estate Association has rejected media reports that there has been a surge in the purchase of housing in HCM City by foreigners, with most being from mainland China and Hong Kong.

Economy

Supermarkets report sharp rise in sales during New Year

There was a surge in sales at supermarkets and shopping malls during the four-day New Year holidays.

Economy

Thaco pours $200m into production plant

The local Truong Hai Automobile Company (Thaco) has invested VND4.5 trillion (nearly US$200 million) in a manufacturing plant to produce cars for luxury European brands in the central province of Quảng Nam.