IT firm lists on HCM City stock market

Thursday, Jan 16, 2020 08:20

Nguyen Chi Dung (L), chairman of the Joint Stock Company for Telecoms and Informatics, receives the listing licence from Nguyen Vu Quang Trung, deputy CEO of the HCM Stock Exchange. — Photo courtesy of HOSE

Joint Stock Company for Telecoms and Informatics (code: ICT) listed nearly 32.2 million shares on the HCM Stock Exchange on January 15 at a reference price of VND23,100 (US$0.99).

Established in 1972, the company, formerly known as the Communication Equipment Repair Enterprise I, has a charter capital of VND321 billion ($13.86 million).

Its main business lines include wholesale electronic, telecom and IT equipment and components, and offer other services such as leasing of IT and telecom equipment infrastructure and other value-added services on mobile platforms.

Speaking at the listing ceremony, Nguyen Chi Dung, the company’s chairman, said the listing would establish a transparent relationship between the company and its investors through compliance with information disclosure regulations and transparency in corporate governance.

This would help promote the company’s image and prestige and facilitate further capital mobilisation down the line, he added.

In the first nine months of last year, its revenues and after tax-profit were VND847 billion ($36.6 million) and VND33 billion ($1.42 million), respectively. — VNS

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