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Banking & Finance

Cholimex to list on UpCOM

Released at: 14:26, 23/02/2017

Cholimex to list on UpCOM

Photo: cholimex.com.vn

First trading day expected to be March 1, with a reference price of VND10,200 ($0.44) per share.

by Hai Van

The Hanoi Stock Exchange has approved a plan by the Cholimex Food Joint Stock Company to trade on the UpCOM market, with the stock code CLX. It has charter capital of VND866 billion ($37.92 million), with 86.6 million shares to be traded.

The first trading day is expected to be March 1, with a reference price of VND10,200 ($0.44) per share.

The State formerly held 100 per cent of Cholimex, which operates under the model of parent – subsidiary and is affiliated with the Ho Chi Minh City People’s Committee.

Cholimex held an IPO in March 2016, with 199 investors buying 13.84 million shares. At a price of VND10,000 ($0.43) per share, the company brought in more than VND138 billion ($6.04 million).

Its equitization steering committee sold the remaining stake of 8,290,600 shares via direct negotiations on March 29, 2016. Twenty-seven investors bought the shares at VND10,000 (0.43) per share.

The company held its first shareholder meeting in late June 2016 and changed to a joint stock company with charter capital of VND866 billion ($37.92 million). At its first board meeting, Ms. Tran Thi Thanh Nhan was elected Chairwoman of the company, Mr. Bui Tuan Ngoc Vice Chairman, and Mr. Huynh An Trung CEO. The company has not increased its chartered capital since.

Cholimex had three major shareholders as at September 20, holding a total of 92.35 per cent. The biggest is the State-owned Ho Chi Minh City Finance and Investment Company (HFIC), with 49 per cent. Transimex holds 35.02 per cent and the Van Hoa Viet Service Joint Stock Company 8.33 per cent

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