Friday, June 20, 2008
Tan Hoa Plastics Joint-Stock Company listed on June 19 on the HCM City Stock Exchange (HOSE) to become its 152 nd company.
The company saw 520 shares traded on the first day, closing at 44,000 VND (2.4 USD) against a reference of 55,000 VND. A 20 percent price fluctuation is allowed on the first trading day.
Tan Hoa, which makes plastic packaging material, has a charter capital of 80 billion VND (4.8 million USD).
Nguyen Huy Cao An, its deputy chairman, said domestic customers account for 60 percent of his company’s turnover. Supermarkets overseas like Carrefour and Intermache are among the major buyers.
The company targets a turnover of 321 billion VND this year, 42 percent up over last year, and an unchanged gross profit of 15 billion VND.
It plans to move its workshops in HCM City to a new site in Long An province’s Tan Duc Industrial Park in the fourth quarter, tripling its annual capacity to 15,000 tonnes.
The land where the workshops are now situated will be used to develop office buildings and or factories for lease.
Friday 20 June 2008
Tan Hoa Plastics lists shares in HCM City
