Shares in Vietnam's Thuan An Wood Processing Company (GTA) jumped 20 percent on their Monday debut on the Ho Chi Minh Stock Exchange, while the market eased slightly.
Shares in the rubber wood processor closed at 66,000 dong ($4.08) each, above the starting price of 55,000 dong the company set for the first trading day.
Thuan An, now the 108th listed firm on Vietnam's exchange, was valued at $34.3 million. Other wood industry-related listed companies include furniture exporter Savimex (SAV) and two paper manufacturers Hapaco (HAP) and Vien Dong Paper (VID).
The VN Index edged 0.21 percent down to close at 979.23 points, a 30 percent rise from the end of 2006.
The market capitalisation stood at $12.7 billion.
Thuan An, based in the southern province of Binh Duong, is a subsidiary of Vietnam Rubber Group. It gets 51 percent of its export revenues from the United States, Europe and several Asian countries.
Wooden products are Vietnam's fifth-largest foreign exchange earner after crude oil, textiles, footwear and seafood.
Thuan An's net profit last year jumped 29.9 percent from 2005 to 13.85 billion dong ($858,200) as revenues grew 6.8 percent to 182 billion dong ($11.3 million), the company said in its prospectus.
It has forecast this year's revenues to rise 13 percent from 2006 to 206 billion dong while the net profit would jump 32.5 percent to 18.35 billion dong, thanks to expanded production capacity with a new plant operational in 2006.
Another rubber firm, Tay Ninh Rubber Company which is valued at $240 million on the unofficial markets, is scheduled to debut on the exchange on Tuesday with all its 30 million shares.
Source: Reuters
Showing posts with label Wood. Show all posts
Showing posts with label Wood. Show all posts
Monday, July 23, 2007
Thursday, July 19, 2007
Savimex seeks to nail growing exports to US, EU
The Ho Chi Minh City-based joint stock Savimex Corp opened a plank, or plywood, factory in Thu Duc District on July 17 to supply new products to the US and EU markets.
Savimex general director, Le Minh Trang, said the company had won a contract to supply at least 10 containers of plank products per month to New Jersey-based Acorn USA Holdings Llc in 2007.
Savimex’s total export of plank products to American and EU markets amounts to 100 containers per month.
Trang said Savimex expected export turnover of at least 3 million USD per year for the new products.
In addition, the company will also supply these products to local customers who buy plywood for new serviced apartments under construction in cities across the country.
”Modernising the company’s production lines and management and equipping them with advanced technologies are our priorities,” said Trang.
She added Savimex targeted annual export turnover of 40 million USD by 2010.
Source: VEN
Savimex general director, Le Minh Trang, said the company had won a contract to supply at least 10 containers of plank products per month to New Jersey-based Acorn USA Holdings Llc in 2007.
Savimex’s total export of plank products to American and EU markets amounts to 100 containers per month.
Trang said Savimex expected export turnover of at least 3 million USD per year for the new products.
In addition, the company will also supply these products to local customers who buy plywood for new serviced apartments under construction in cities across the country.
”Modernising the company’s production lines and management and equipping them with advanced technologies are our priorities,” said Trang.
She added Savimex targeted annual export turnover of 40 million USD by 2010.
Source: VEN
Thursday, July 12, 2007
Wood processor plans July 23 share debut
Vietnam's Thuan An Wood Processing Company is set to list 8.4 million shares on the Ho Chi Minh Stock Exchange later this month, becoming the 108th firm on the board, the exchange said in a statement.
Shares in the rubber wood processor, valued at about $31 million based on its unofficial market share price of around 60,000 dong ($3.70) in early May, will start trading on July 23.
The 8.407 million shares represent the firm's registered capital of 84 billion dong ($5.2 million).
Thuan An, based in the southern province of Binh Duong, is a subsidiary of Vietnam Rubber Group, and gets 51 percent of its sales from exports to the United States, Europe and several Asian countries.
Exports of wooden products are Vietnam's fifth-largest foreign exchange earning product after crude oil, textiles, footwear and seafood.
In April 2005, Thuan An sold 95,310 state-held shares, a 23.7 percent stake, with a face value of 100,000 dong at an average price of 128,329 dong ($7.96) in an initial public offering. It has since raised its registered capital to 84 billion dong.
Another rubber firm, Tay Ninh Rubber Company, has also received a licence to list on the exchange but has yet to announce a debut date.
Source: Reuters
Shares in the rubber wood processor, valued at about $31 million based on its unofficial market share price of around 60,000 dong ($3.70) in early May, will start trading on July 23.
The 8.407 million shares represent the firm's registered capital of 84 billion dong ($5.2 million).
Thuan An, based in the southern province of Binh Duong, is a subsidiary of Vietnam Rubber Group, and gets 51 percent of its sales from exports to the United States, Europe and several Asian countries.
Exports of wooden products are Vietnam's fifth-largest foreign exchange earning product after crude oil, textiles, footwear and seafood.
In April 2005, Thuan An sold 95,310 state-held shares, a 23.7 percent stake, with a face value of 100,000 dong at an average price of 128,329 dong ($7.96) in an initial public offering. It has since raised its registered capital to 84 billion dong.
Another rubber firm, Tay Ninh Rubber Company, has also received a licence to list on the exchange but has yet to announce a debut date.
Source: Reuters
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