Vietnam's fourth-largest dairy product maker, Nutifood, plans to hold a maiden share auction and list on the Ho Chi Minh Stock Exchange in the fourth quarter of this year, a company spokesman said on Friday.
"We are still working with our IPO advisor on the details of the auction and we aim to float Nutifood shares in the fourth quarter," he said.
The Ho Chi Minh City-based firm, which has a registered capital of 120 billion dong ($7.4 million), expects its profit to rise 69 percent to 44 billion dong ($2.7 million) this year from 2006.
"Our target is to grow our business by between 30 percent to 35 percent per year in the next couple of years," the spokesman said, adding the firm had set up about 60,000 outlets for its products which include milk powder and other nutrition drinks.
Nutifood shares are being traded on the unofficial market at around 60,000 dong to 90,000 dong ($3.7-$5.6) each.
The company plans to invest about 205 billion dong ($12.7 million) in a dairy processing plant in the southern province of Binh Duong near Ho Chi Minh City.
The domestic market for dairy products is dominated by Vinamilk (VNM) which commands a lion's share of 75 percent.
Other competitors include Dutch Lady Milk Industrie and Abbott Laboratories.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment