03/12/2015 14:57
More than 1.3 million shares of Hoa Phat Group (HPG) were traded yesterday as the conglomerate debuted on the HCM City Stock Exchange.
HPG closed at VND127,000, against a reference price of VND110,000 for the listing session and a permitted 20 per cent fluctuation.
The group has interests in steel, construction and urban development, refrigeration, electrical engineering and cement.
It reported a net profit of VND475 billion (US$29.7 million) in the first 10 months of this year. This is expected to rise to VND550 billion for the full year, according to general director Tran Tuan Duong.
He added annual profit growth was expected to be 20-25 per cent in the next five years, and promised a minimum annual dividend of 20 per cent.
The group eyes a net profit of VND1 trillion on a turnover of VND10 trillion by 2010. By 2012 it hopes to become one of the few private industrial groups in the country with a turnover of $1 billion.It is now developing several major projects including a VND3 trillion steel complex, and the Pho Noi A Industrial Park in Hung Yen Province. It has also got approval from the province to develop the 300ha Pho Noi A Urban Area.
HPG has a chartered capital of VND1.32 trillion, and plans to increase it to VND1.98 trillion next year.
Of this, stakes worth VND100 billion in face value may be sold to strategic partners.
Besides a 10 per cent dividend this year, shareholders could also get four bonus shares for every 10 they own.
VNS
Related news
24/07/2019 14:17
10/07/2019 14:16
03/07/2019 11:49
01/07/2019 11:45
28/06/2019 11:44
Comment