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Viet Tien lists on UPCoM

Released at: 17:27, 10/03/2016

Viet Tien lists on UPCoM

Shares start initial session on March 10 at VND40,000 and peak at VND56,000.

by Hong Nhung

The Viet Tien Garment Joint Stock Corporation (VTEC) officially listed 28 million shares on UPCoM on the morning of March 10.

Coded VGG, VTEC’s shares traded on UPCoM at a reference price of VND40,000 and peaked at VND56,000 in their first session.

The corporation has four subsidiaries: Thuan Tien Garment Ltd (where it holds 82.5 per cent of charter capital), Tien Thuan Garment Ltd (85.9 per cent), Nam Thien Ltd (83.6 per cent), and Viet Tien Meko Ltd (51 per cent).

Its charter capital, after turning convertible bonds into shares, had by early February increased from $12.5 million to $19 million.

The company announced that in 2015 its consolidated revenue stood at $287 million, increasing approximately 17 per cent against 2014, with after-tax profit of $14 million.

VTEC has set targets for 2016 of $282 million in turnover, $8.9 million in after-tax profit, an ROE of 47.6 per cent, and a minimum share dividend of 20 per cent.

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