Viglacera to list shares on southern bourse
1/4/19 12:00 PM
A worker checking the quality of Cotto floor tiles at Viglacera Halong JSC in the northern province of Quang Ninh (Photo: VNA)
The Ho Chi Minh Stock Exchange (HoSE) has approved the listing of the State-owned glass and construction ceramics producer Viglacera on the southern bourse.
Viglacera will list 448 million shares on the southern market with the code VGC – the same ticker it has on the Hanoi Stock Exchange (HNX).
The total value of the listed shares is 4.48 trillion VND (194 million USD).
The HoSE listing will help Viglacera increase its stock liquidity and facilitate the Ministry of Construction’s sale of its 54 per cent stake in the firm during the first quarter of this year.
The change of listing will also help Viglacera’s shares attract more attention from investors.
In 2018, the company earned 600 billion VND (26 million USD) in pre-tax profit, up 6 percent against 2017.
On January 4, VGC shares on the HNX ended trading up 1.15 percent, settling at 17,600 VND per share.
Viglacera was established in 1974 under a decision by the Ministry of Construction. In 2014, the company was equitised with a charter capital of 2.64 trillion VND (114.3 million USD).