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Banking & Finance

Hai Phong Port to list

Released at: 09:46, 11/08/2015

Hai Phong Port to list

Shares to sell on Hanoi Stock Exchange from August 12.

by Minh Tuyet

The Hanoi Stock Exchange has approved the listing of Hai Phong Port, owned by the Hai Phong Joint Stock Company, with trading to start on August 12.

Its stock code will be “PHP” with an opening price set at VND10,000 ($0.45). The number of shares is 326.96 million and its charter capital is VND3.27 trillion ($149.86 million). After listing the price is expected to rise to VND16,500 ($0.75), for capitalization of VND5.3 trillion ($247.2 million).

In the first half of the year about 11.39 million tonnes of cargo was handled at the port, a 17.5 per cent increase year-on-year. Its revenue was almost VND837 billion ($38.35 million) and pre-tax profit some VND191 million ($8.75 million), an 11 per cent increase year-on-year.

This year it expects to handle 23.5 million tones of cargo, 19 per cent more than last year. Total revenue is estimated at VND1.72 trillion ($78.8 million) with profit of VND380 billion ($17.4 million).

State capital now accounts for 95 per cent, held by Vinalines. A Prime Ministerial decision in November 2014 allows Vinalines to continue to hold 65 to 75 per cent.

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