Three new companies list on HCM City stock exchange

VNStockNews.com - The Vietnam Golf Tourism Joint Stock Co (VNG) and Vietnam Fumigation Joint Stock Co (VFG) listed on the HCM City Stock Exchange yesterday.

VNG, based in southern Ba Ria-Vung Tau Province, has a charter capital of VND130 billion (US$7 million) and had a reference price of VND20,000.

It owns two four-star hotels each in Da Lat resort city in the Central Highland and Can Tho City in the Mekong Delta and a two-star property in Da Lat, and is developing a residential project, the Vinagolf-Han Thuyen, in the highland town.

It is also joining hands with several other firms to build a four-star hotel in Tien Giang Province and a hotel-leased apartment complex in Vung Tau by early 2011.

The company reported a net profit of VND6.5 billion in the first 11 months, up from VND5.7 billion in the same period last year.

VFG has a charter capital of VND81.3 billion and its listing reference price was VND66,000.

This year it targeted a net profit of VND66 billion, up from 50 billion last year, but has already gone past that mark, achieving over VND71 billion by October end.

In further listings at the HoSE, Kinh Bac City Development Shareholding Corp (KBC) based in northern Bac Ninh Province comes aboard today with more than 190 million shares. The reference price has been set at VND65,000.

KBC plans to begin construction of a giant complex comprising a hotel and office and commercial buildings in Ha Noi’s My Dinh area next year at an estimated cost of $500 million.

It also plans to build the Kinh Bac Financial Tower at a cost of $100 million in Ha Noi and a 300ha urban area in HCM City.

It is set to issue 58 million bonus shares to existing shareholders as dividends for this year at the rate of three shares for every 10 held. It was earlier listed on the Ha Noi Stock Exchange.