3:26:43 PM | 7/8/2005
The Phuong Nam Cultural Joint Stock Company (PNC) will become the 29th firm to list shares on the Ho Chi Minh City Securities Trading Center on July 4.
PNC will float two million common shares, equivalent to its chartered capital of VND20 billion (US$1.3 million).
The company, which is based in the southern hub of Ho Chi Minh City, is at present covering business in supermarkets, consumption goods, and cultural articles, such as books, disks, and newspapers.
PNC has 19 bookstores nationwide, and a printing factory, and owns two famous-trademark firms, including Phuong Nam Bookstore and Phuong Nam Film Company.
Together with listing plan, the cultural firm will also make dividend payment for the second half of 2004. It is scheduled to pay a cash dividend of VND600 a share, raising the total dividend for 2004 to VND1,200.
Last year, PNC posted net profit of VND4.77 billion (US$302,000) from revenue of VND161.5 billion (US$10.3 million).
The stock is currently trading on an over-the-counter (OTC) market price of around VND19,500 each.
Vietnam at present has 28 listed firms with combined capitalization of VND4.3 trillion (US$272 million) since it launched its stock market in July 2000. It plans to list an additional 100 companies by the end of this year.
Vietnamese
