Bac Lieu fisheries processor goes public

Saturday, April 26, 2008
The Hanoi Securities Trading Center (HaSTC) on April 22 approved in principle Bac Lieu Fisheries Joint Stock Co (coded BLF) to list shares on the northern bourse.

BLF officially changed into the model of joint stock company from July 20, 2006 specialising in seafood and aquatic production, processing, export and import.

In 2007, the processor reached 262.8 billion dong in revenue and 11.2 billion dong from after tax profit. In October 2007, the company finished new frozen sushi production line to export to Japanese and European markets. At present, the company earns monthly over US$300,000 from seafood export turnover

This year, BLF plans to hike its chartered capital to 80 billion dong through adding equitisation surplus capital to chartered capital and offering more shares to the strategic shareholders.

The capital being mobilised from the share issue will be invested in future projects, which were signed with Japan and Korea partners.

The company also plans to build a new plant in HCM City and Bac Lieu in the forthcoming time. (DTCK)