VRG listing plan approved

Update: January, 07/2020 - 09:38


Rubber latex harvested at a VRG farm. — Photo

HCM CITY — The Hồ Chí Minh Stock Exchange (HoSE) has approved the listing of four billion shares for the Vietnam Rubber Group JSC (VRG).

The company filed for HoSE listing on October 22 last year. The deal was underwritten by ACB Securities Co Ltd.

The largest rubber company by market capitalisation started trading shares on the Unlisted Public Company Market (UPCoM) on March 21, 2018 under code VRG.

It was equitised on June 1, 2018. VRG shares fell 1.7 per cent to close Monday at VNĐ11,500 (US$0.50) per share.

VRG is the biggest firm by charter capital on UPCoM with a capital of VNĐ40 trillion.

If listed, the company will become the second largest company by charter capital on HoSE, behind the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

In 2019, the company estimated total revenue of VNĐ29.8 trillion and pre-tax profit at VNĐ5.13 trillion.

The company has beaten its full-year revenue target by 23 per cent but fell short of its profit goal by 2 per cent. — VNS