Saigon Maritime to JoinHCMCity Bourse Mid-August
The Saigon Maritime Joint Stock Company (SMC) will make its debut on the Ho Chi Minh City Securities Trading Center (HSTC) mid-this month, becoming the 48th stock on the Vietnam’s stock exchange.
Accordingly, SMC will list float its total 1.4 million shares, equivalent to the registered capital of VND14 billion (880,500), on the bourse from August 15.
The firm specializes in shipping, container agent, logistics, warehousing distribution as well as trading oil and gas and civil engineering.
Once listed, SMC will become the fourth and smallest logistics company on the HSTC after the VND348-billion General Forwarding and Agency Corp (Gemadept), the VND42.9-billion Transforwarding & Warehousing Co. (Transimex) and the VND55.8-billion Vinafco Logistics Corp.
However, the company is also mulling issue new shares soon to raise its registered capital to VND30 billion (US$1.9 million).
Regarding operational results, SMC obtained revenue of VND58 billion in 2003, VND71.9 in 2004, VND62.3 billion in 2005, while its profit attained at VND3.3 billion, VND4.6 billion and VND4.8 billion, respectively.
The company sets to earn profit of VND3.9 billion from revenue of VND72.7 billion this year and VND43 billion from VND80 billion in next year.
The dividend is expected at 15 per cent in 2006 and 2007, unchanged from last year but lower than the 20 per cent payout in 2003 and 2004.
HSTC
Vietnamese
