After petitioning the HCM City Securities Trading Centre, the Hoa Phat Group is now scheduled to be listed in September at the latest, group chairman Tran Dinh Long said.
Hoa Phat announced that it had completed an issuance of 22 million shares to strategic institutional shareholders to increase its chartered capital to VND1.32 trillion (US$82.5 million) from VND1.1 trillion ($68.75 million).
"Listing on the HCM City Stock Exchange will create favourable conditions for the company to attract investments in long-term development and benefit the shareholders," Long said.
Surplus capital of VND1.3 trillion ($81.2 million) from the issuance will be used to invest in projects such as an office building for rent, a new urban zone and a cement plant, according to Long.
More details about the issuance will be disclosed in the near future, he said.
In the first six months of the year, Hoa Phat netted a profit of VND254 billion ($15.8 million) on a revenue of VND2.38 trillion ($148.9 million), accounting for 55 per cent and 77 per cent, respectively, of the targets set for the year.
The three affiliates who contributed the most to the group’s revenue and profit were Hoa Phat Joint Stock Co, Hoa Phat Steel Pipe Co and Hoa Phat Interior Co.
By the year’s end, Hoa Phat will expand its business in refrigeration equipment to meet the market’s increasing demand in addition to boosting furniture production, which is the corporation’s strength.
Long expected that by the end of the year the group would generate a turnover of VND4.7 trillion ($293.7 million) and gain a profit of VND420 billion ($26.3 million), representing year-on-year rises of 35 per cent and 110 per cent, respectively.
Source: VNS
Showing posts with label Hoa Phat. Show all posts
Showing posts with label Hoa Phat. Show all posts
Thursday, August 09, 2007
Tuesday, July 03, 2007
Hoa Phat Corporation to list on bourse
Hoa Phat Corporation, the nation’s one of leading wood products firms, has filed to list shares with the Ho Chi Minh Stock Exchange in September.
The corporation has increased its charter capital from 1.1 trillion VND (68.8 million USD) to 1.3 trillion VND (81.3 million USD) and issued 20 million shares this year, earning 1.2 trillion VND (75 million USD).
Hoa Phat posted profits of 200 billion VND (12.5 million USD) in the first five months of this year, a year-on-year increase of 63 percent.
Source: VNA
The corporation has increased its charter capital from 1.1 trillion VND (68.8 million USD) to 1.3 trillion VND (81.3 million USD) and issued 20 million shares this year, earning 1.2 trillion VND (75 million USD).
Hoa Phat posted profits of 200 billion VND (12.5 million USD) in the first five months of this year, a year-on-year increase of 63 percent.
Source: VNA
Wednesday, May 16, 2007
Hoa Phat earns 67millio US$ in Q1
The Hoa Phat Group generated gross revenues of over VND1 trillion (nearly US$67 million) in the first quarter of the year, on course to achieve its targets for the year.
The group netted profits of VND104 billion ($6.5 million) during the period, reaching 31.5% of the year’s target.
Besides expanding its traditional operations, the company plans to diversify into such areas as real estate development, including high-rise office and condominium construction.
Construction began on the Hoa Phat Cement Plant in late April in the Thanh Liem District of the northern province of Ha Nam. With a design capacity of two million tonnes per year, the plant promised to be a profitable new line of business.
The group also plans to make its IPO on the HCM City stock exchange in the third quarter of this year.
Group executives predicted turnover this year may reach VND5 trillion ($310 million), exceeding previous targets by about 10%, while net profits were predicted to reach VND330 billion ($20.7 million) and dividends 25%.
Source: VNS
The group netted profits of VND104 billion ($6.5 million) during the period, reaching 31.5% of the year’s target.
Besides expanding its traditional operations, the company plans to diversify into such areas as real estate development, including high-rise office and condominium construction.
Construction began on the Hoa Phat Cement Plant in late April in the Thanh Liem District of the northern province of Ha Nam. With a design capacity of two million tonnes per year, the plant promised to be a profitable new line of business.
The group also plans to make its IPO on the HCM City stock exchange in the third quarter of this year.
Group executives predicted turnover this year may reach VND5 trillion ($310 million), exceeding previous targets by about 10%, while net profits were predicted to reach VND330 billion ($20.7 million) and dividends 25%.
Source: VNS
Friday, March 09, 2007
Cable maker starts strategic alliance
Sacom has entered into a strategic agreement to make joint investments with construction and trading firm Hoa Phat.
Following a deal signed Thursday, Sacom will acquire 4.5 million shares in Hoa Phat and the latter will acquire 2 million Sacom shares at undisclosed prices.
Sacom will issue shares to Hoa Phat once it gets the regulator’s nod.
The agreement sees both parties pledging to use each other’s products and services and promote joint investment projects.
Sacom holds 15 to 40 percent stakes in six other companies with a combined chartered capital of nearly VND1.4 trillion (87.4mio US$). Its stock gained 4.69 percent Thursday to VND223,000 per unit.
Hoa Phat is a private joint stock company involved in industrial manufacturing, construction, and trading that is seeking to list on the Ho Chi Minh City stock exchange this year.
It reported revenues last year of VND3.8 trillion (240mio US$) and profits of VND225 billion.
It is also a holding concern running seven other enterprises with a total chartered capital of VND 1.1 trillion.
Source: Thanh Nien
Following a deal signed Thursday, Sacom will acquire 4.5 million shares in Hoa Phat and the latter will acquire 2 million Sacom shares at undisclosed prices.
Sacom will issue shares to Hoa Phat once it gets the regulator’s nod.
The agreement sees both parties pledging to use each other’s products and services and promote joint investment projects.
Sacom holds 15 to 40 percent stakes in six other companies with a combined chartered capital of nearly VND1.4 trillion (87.4mio US$). Its stock gained 4.69 percent Thursday to VND223,000 per unit.
Hoa Phat is a private joint stock company involved in industrial manufacturing, construction, and trading that is seeking to list on the Ho Chi Minh City stock exchange this year.
It reported revenues last year of VND3.8 trillion (240mio US$) and profits of VND225 billion.
It is also a holding concern running seven other enterprises with a total chartered capital of VND 1.1 trillion.
Source: Thanh Nien
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