The Ha Noi Stock Exchange has approved the Ha Noi Textile Garment Company (Hanosimex) to list 20.5 million shares on Unlisted Public Company Market (UPCoM) on April 19.

The reference price for its shares, which will be listed under code HSM, will begin at VND15,800 (US$0.7) per share, equivalent to market capitalisation of VND431 billion ($18.9 million)

Hanosimex, formerly named Ha Noi Fibre Plant, was put into operation in 1984. The company was equitised in 2007, with the State holding 57 per cent of charter capital, worth an estimated VND205 billion. Since then, the company has not increased its charter capital.

As of January 9, 2018 Hanosimex had two major shareholders holding 76.19 per cent of its charter capital, namely the Viet Nam National Garment and Textile Group (Vinatex), owning 57.57 per cent of capital, and Viet Nam Textile and Garment Infrastructure Development and Production and Trading Company (Vinatex ICT), holding 18.62 per cent of capital.

The company has plants in Ha Noi, Hung Yen, Ha Nam, Nghe An and Ha Tinh, operating in spinning, sewing, scarf production, textile weaving, trading and logistics.

Hanosimex owns three land plots, including one spanning 2,600 sq m at No 25, Lane 13, Linh Nam Street in Ha Noi’s Hoang Mai District. The land plot is not in use.

The two others have been used, including one with an area of 125,000 sq m in Dong Van II Industrial Park in the northern province of Ha Nam and one spanning 68,540sq m in Nam Giang Industrial Cluster in the central province of Nghe An’s Nam Dan District.

The company earned VND2.4 trillion in revenue, of which revenue from the fibre industry reached VND1.6 trillion, 70 per cent of total revenue. Revenue from sewing reached VND335 billion, accounting for 14.2 per cent of total revenue. The textile industry brought in VND215 billion, contributing 9.11 per cent of total revenue.

In 2017, the company’s after-tax profit touched nearly VND60 billion.

Hanosimex aims to earn VND2.5 trillion in revenue in 2018 and VND2.8 trillion in 2019. After-tax profit is expected to reach VND77 billion and VND82 billion respectively in 2018 and 2019. — VNS