VNP lists on UPCom market
More than 19.4 million shares of Vietnam Plastic Corporation code VNP officially traded on UPCoM market on the Hanoi Stock Exchange on August 18.
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| The Ha Noi Stock Exchange runs a welcome note to VNP shares on its website on August 18. — Photo HNX |
Under current regulations, before the the official listing, the company should be traded as an unlisted public company (UPCoM).
The HCM City-based company has charter capital of VND198 billion (US$8.82 million). It has more than 30 years working plastic production and trading industry in Viet Nam.
Each year, it produces 20,000 tonnes of plastic of all kinds, accounting for 5 per cent of total production supply in the market.
VPN is listed in the top 10 largest raw plastic suppliers in Viet Nam.
The corporation mostly produced BOPP plastic which was used in the printing and packages for cigarettes, garments and textilse, food, beverage, and healthcare products.
It also provided plastic beads to meet the demand of the high industries such as building materials, electrical and electronic equipment, components and automotive and motorcycle components for telecommunications service and transportation.
According to the financial report of the corporation in the first half of 2015, net sales reached VN242 billion ($10.8 million), as much as half less than the sales of the same term last year.
Though the local industry was still facing difficulties from stiff competition, experts thought that it still had a good growth potential.
Except for growing demand in Viet Nam, plastic products have also been exported to 55 countries and territories.
VPN aims to reach revenue of VND766.4 billion ($34.5 million) in 2015 and VND 843 billion ($37.5 million) in 2016 respectively. — VNS
