Minh Phu Seafood Company , Vietnam's top shrimp processor and exporter, said on Tuesday it will move its listing to the country's main exchange late this year. The Mekong Delta-based firm, 10% owned by Singapore's Temasek Holdings, would move its shares to the Ho Chi Minh Stock
Exchange in the fourth quarter, Minh Phu said in a statement via the Hanoi stock market.
It also said Singapore-based Aranda Investments Pte. Ltd., a subsidiary of Temasek, represented its parent firm to hold the 10-percent stake in Minh Phu as of June 11.
After the statement was released, Minh Phu shares, which now trade on the over-the-counter Hanoi Securities Trading Center , gained 0.87% to 57,800 dong ($3.59) at 0233 GMT on, valuing the firm at $215 million.
Source: Reuters
Showing posts with label MPC. Show all posts
Showing posts with label MPC. Show all posts
Tuesday, June 19, 2007
Friday, June 15, 2007
MPC Seafood sells stake to Singapore
Singaporean state-owned investor Temasek Holdings has acquired a 10 percent stake in a Vietnamese seafood exporter to take advantage of the growth potential in Vietnam's aquaculture export industry
Tamasek and the Minh Phu Seafood Export-Import Joint Stock Company, based in the southernmost province of Ca Mau, signed the deal Wednesday. However the acquisition value was not disclosed.
Minh Phu CEO Le Van Quang said the company picked up Temasek as strategic partner as the Singapore investor would assist the local exporter in administration skills and support its new market search.
Listed on the Hanoi Securities Trading Center, Minh Phu is Vietnam's largest shrimp processor and exporter by both volume and value.
The company went public last year and has a market capitalization of about VND3.3 trillion (US$205 million). It is completing procedures to move listings to the Ho Chi Minh City market.
Minh Phu exports its shrimp products to major markets such as the US, Japan, and the European Union.
Temasek said it sees Minh Phu as being well-positioned to capitalize on the growth potential in Vietnam's key aquaculture export sector.
Vietnam is the third largest shrimp producer in the world after China and Thailand, exporting over $1.3 billion worth of the seafood last year.
Minh Phu stocks (MPC) stayed unchanged to close at VND56,000 in Wednesday’s session.
Source: Thanh Nien
Tamasek and the Minh Phu Seafood Export-Import Joint Stock Company, based in the southernmost province of Ca Mau, signed the deal Wednesday. However the acquisition value was not disclosed.
Minh Phu CEO Le Van Quang said the company picked up Temasek as strategic partner as the Singapore investor would assist the local exporter in administration skills and support its new market search.
Listed on the Hanoi Securities Trading Center, Minh Phu is Vietnam's largest shrimp processor and exporter by both volume and value.
The company went public last year and has a market capitalization of about VND3.3 trillion (US$205 million). It is completing procedures to move listings to the Ho Chi Minh City market.
Minh Phu exports its shrimp products to major markets such as the US, Japan, and the European Union.
Temasek said it sees Minh Phu as being well-positioned to capitalize on the growth potential in Vietnam's key aquaculture export sector.
Vietnam is the third largest shrimp producer in the world after China and Thailand, exporting over $1.3 billion worth of the seafood last year.
Minh Phu stocks (MPC) stayed unchanged to close at VND56,000 in Wednesday’s session.
Source: Thanh Nien
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