ASG Corp files for HOSE listing

Friday, Aug 10, 2018 19:00

The ASG Corp building near the Noi Bai International Airport in Ha Noi. The company has filed for listing 34.5 million shares on the HCM Stock Exchange. — Photo

The Airport Services Joint Stock Corporation (ASG Corp) has filed to list 34.5 million shares on the HCM Stock Exchange (HOSE).

With the listing, the company’s charter capital will reach VND345 million (US$15.3 million).

ASG Corp was transformed into a public company after it obtained approval of the State Securities Commission on May 4, 2018.

The company had planned to list its shares on HOSE in July.

Logistics firm ASG Corp was founded in October 2010 and its core businesses include ground and freight transportation and warehouses.

The company currently holds full control of three sub-units, which are the Sai Gon Airport Services JSC, ALS Thai Nguyen Co Ltd and ALS HCM City Co Ltd.

ASG Corp also has stakes in two firms – Cam Ranh International Airport Services JSC and Sai Gon Aviation Services JSC.

The company recorded net revenue of VND255.2 billion in the first half of 2018, a year-on-year increase of 4 per cent.

Its post-tax profit in the first six months rose 8 per cent year on year to VND85 billion, raising total undistributed post-tax profit in the first half of the year to VND256 billion.

The company’s total assets reached VND1.2 trillion as of June 30, 2018, rising by VND326 billion compared to the beginning of the year.

Its payables were VND447 billion, including VND50 billion worth of short-term loans and VND143 billion worth of long-term loans.

The company’s equity was VND767 billion. ASG Corp has two major shareholders: the Aviation Logistics JSC (ALS) with a 5.8 per cent stake and the International Logistics JSC with a 9.2 per cent stake.

A number of aviation and airport services are trading and listing on the Vietnamese stock market such as the Cam Ranh International Airport Services JSC (CIA), Vietnam Airlines JSC (HVN), budget carrier Vietjet Air (VJC), Airports Corporation of Viet Nam (ACV), Da Nang Airports Services JSC (MAS), Noi Bai Airport Services JSC (NAS) and Southern Airports Services JSC (SAS). — VNS

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