The Thuy Ta Ice-cream Joint Stock Company will trade three million shares on the Unlisted Public Company Market (UPCoM) on June 20.

The company received approval from the Ha Noi Stock Exchange, and will use the stock code TTJ.

Thuy Ta will list its entire shares equivalent to a listing value of nearly VND30 billion (US$1.3 million), at a reference price of VND31,000 per share. The share price is allowed to fluctuate +/-40 per cent on the first trading day.

Thuy Ta operates restaurants, manufactures ice-cream products, produces pure water and supplies materials to the photography industry.

Since 2012, Thuy Ta’s market share has dropped from 10.9 per cent to 9.7 per cent, as it faces intense competition from its rival Kido Foods company, which has the northern market.

Currently, its largest shareholder is Ha Noi Trade Corporation, which owns 51.25 per cent of its total capital. The two other major shareholders are Golden Dragon Pacific JSC at 11.18 per cent, and Asia Commercial Joint Stock Bank, which holds 10 per cent of the shares.

In the first quarter of this year, Thuy Ta earned a revenue of around VND22 billion, up six per cent year on year. Its after-tax profit reached VND1 billion, down five per cent compared to the same period in 2016. Its earnings per share (EPS) was around VND371.

In 2017, Thuy Ta plans to generate VND115 billion in revenue and make an after-tax profit of VND8 billion, up four per cent and eight per cent respectively from 2016. The company also aims to pay 12 per cent dividend. — VNS