Vietnam's Cho Lon Real Estate Company will float its shares on the Hanoi stock market next month, making it the 87th stock to trade on the over-the-counter market, a company executive said on Wednesday.
The Ho Chi Minh City-based company, also known as Cholonres, will list all its 1.5 million shares on June 14, chairman Tran Van Chau said in a statement.
Shares of Cholonres were traded at between 90,000 and 92,000 dong ($5.59-$5.71) late last month on the unofficial, unregulated markets, which valued the firm at up to $8.6 million.
The company builds residential houses and public projects.
The construction industry, along with the industrial and service sectors, are key drivers of Vietnam's economy, one of the world's fastest growing.
Cholonres' debut on the Hanoi stock market would be the first in Vietnam so far this year after a wave of new listings on the country's two exchanges late last year as companies rushed before a government tax relief for listed firms expired on Dec. 31.
Source: Reuters
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