Tracodi lists in HCM City

Friday, May 26, 2017 20:10

Nguyen Ho Nam (L), deputy chairman and general director of Transport and Industry Development Investment Joint Stock Company, today receives the listing licence from Tran Anh Dao, deputy general director of the Ho Chi Minh Stock Exchange. — VNS Photo

Transport and Industry Development Investment Joint Stock Company (Tracodi) on Friday listed 32.48 million shares on the HCM Stock Exchange at a reference price of VND16,000 (US$0.70) a share.

The company will focus on three key sectors: infrastructure construction and real estate; stone, construction materials and mining; and farm produce trading and export.

Nguyen Ho Nam, its deputy chairman and general director, said the listing indicates the company’s new strategy of transparency and would help it enhance its prestige, access long-term resources and develop sustainably.

This year, the company plans to speed up work on BOT 830 and 824 projects, wrap up procedures to begin a social housing project in Long An and increase its stone mining capacity among others.

In trading, it would expand exports of cassava starch, coffee and micro-organic fertilisers, he said.

The company targets after-tax profit of VND63.7 billion, revenues of VND879.47 billion (US$38.7 million) this year, or 6 per cent and 5.5 per cent higher than last year, respectively.

In the first quarter of this year, it reported revenues of VND167 billion ($7.35 million), a more than 90 per cent rise over the same period last year.

Its profit after tax was VND15.1 billion.

TCD plans to pay a dividend of at least 10 per cent for this year. — VNS

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