HRT shares traded on UpCom today

Thursday, Sep 15, 2016 11:15

A train connecting Ha Noi and HCM City. Shares of Ha Noi Railway Transport are traded on UpCom today, nine months after the company's IPO. – Photo thanhniennews
HA NOI (Biz Hub) — More than 80 million shares of the Ha Noi Railway Transport Joint Stock Company (coded HRT) are being traded on the Unlisted Public Company Market (UpCom) today.

The total value of the shares is more than VND800 billion (US$35.7 million).

HRT provides railway transport services, owning more than 600 train boxcars and operating on routes such as Ha Noi-Hai Phong, Ha Noi-Dong Dang, Ha Noi-Lao Cai and North-South route.

In 2015, the company earned revenue of VND3.91 trillion, a 33.19 per cent increase compared with the previous year, and pre-tax profit of VND2.8 billion.

The company has set revenue targets of VND3.13 trillion and VND3.37 trillion for 2016 and 2017, respectively.

In the first six months of this year, HRT earned revenue of more than VND1 trillion and profit of VND700 million.

HRT was traded on UpCom nine months after the company completed its initial public offering in December 2015.

HRT, together with Sai Gon Railway Transport, which is also expected to be listed on UpCom soon, are the two largest members of the Viet Nam Railway Corporation.

Members of the Viet Nam Railway Corporation are gearing up for privatization, state divestment and getting listed on exchanges to improve corporate governance, competitiveness and transparency in managing state assets of the giant railway service operator, which is striving to avoid stagnation.

During the past two months, shares of four other railway companies were traded on UpCom -- Yen Lao Railway, Binh Tri Thien Railway, Nghia Binh Railway and Railway Transport and Trade Company.

Viet Nam Railway expects to maintain average growth rate of 8 per cent per year or higher under its 2016-20 plan. — VNS

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