HCM CITY (Biz Hub) — The Southern Hydropower Joint-Stock Company got on the board of the HCM City Stock Exchange (HOSE) yesterday after having received a license on July 14.

SHP, previously traded as UpCom, has chartered capital of more than VND937 billion (US$44.6 million).

It runs three plants in Lam Dong Province, with a combined output of 550 million kWh, with the largest one (338 million kWh) beginning operation earlier this year.

Last year, SHP achieved turnover of VND194 billion, up almost 10 per cent on the 2012 figure.

Its net profit was VND104 billion, showing an increase of over 14 per cent year-on-year.

This year the company expects a lower profit of VND78 billion, due to increased amortisation with the new plant having been put into production.

SHP, with a charter capital of VND937 billion ($44.4 million), posted a net profit of VND104 billion ($4.9 million) last year, up 14 per cent year-on-year.

The shares closed the first trading day up at VND13,800 ($0.65) per share, a rise of 15 per cent over the reference price of VND12,000 a share. — VNS