NCT has listed a total of 24.92 million shares, equivalent to the charter capital of VND249.2 billion ($11.7 million). — Photo caffef.vn

HA NOI (Biz Hub) — Noi Bai Cargo Terminal Services (NCT) shares debuted on the stock exchange yesterday with a reference price of VND75,000 (US$3.5), but hit the ceiling price of VND90,000 ($4.2).

The company is the first to list its shares in 2015 and the first listed cargo services company to do so.

NCT has listed a total of 24.92 million shares, equivalent to the charter capital of VND249.2 billion ($11.7 million).

The plan to list was approved by the company's shareholders in early 2014, which is part of the company's restructuring strategy, aimed at boosting transparency and attracting investment.

Currently, national flag carrier Vietnam Airlines owns more than a 55 per cent stake in Noi Bai Cargo. Another large shareholder is Noi Bai Airport Services, with its 6.98 per cent stake.

Despite the challenges seen in the country's economy during recent years, Noi Bai Cargo has been able to maintain high growth, especially dividend payments, which are among the highest in the market.

In 2013, the company's revenue and profit jumped 35 per cent and 55.8 per cent to touch VND574.5 billion and VND310 billion, respectively.

Noi Bai Cargo managed to keep its net profit on equity ratio at 71.34 per cent and 89.46 per cent in 2012 and 2013, respectively.

During the first nine months of last year, the company's profit reached VND264 billion. Although, the financial statement for the entire year was not released, sources from the company said it had achieved its target of VND324 billion for gross profit.

During 2011, Noi Bai Cargo paid dividends at 138 per cent and then raised them to 160 per cent in 2012 and 163 per cent in 2013. This year, dividends are also expected to be paid at more than 100 per cent.

Given its effective operations, as proven above, and considering its tradition of paying high dividends, investors are encouraged to buy NCT's stock. — VNS