A worker of the Vietnam Rubber Group JSC (GVR) harvests rubber latex (Photo: cafef.vn)Hanoi (VNS/VNA) - The Vietnam Rubber Group JSC (GVR) will move fourbillion of its shares listing on the Unlisted Public Company Market (UPCoM) tothe Ho Chi Minh Stock Exchange (HoSE).
The last trading session of GVR on UPCoM is March 6, 2020.
The company offered475.1 million shares in an initial public offering (IPO) a year ago. As aresult, only 499 investors registered to buy nearly 101 million shares,accounting for more than one fifth of the offered shares.
The average successful auction price was 13,011 VND (0.56 USD) per share. GVRcollected 1.3 trillion VND through the IPO.
The group soon after that registered to list more than 99 million shares on theUPCOM. The number of shares registered for trading only accounts for a smallpart of the total number of the company’s shares.
More than a year later, in early July 2019, the Hanoi Stock Exchange approvedthe register of trading for another 3.9 billion GVR shares on the UPCoM,bringing the total number of shares trading on the stock market to fourbillion.
As of December 20, 2019, GVR has only one major shareholder, which is theCommittee for Management of State Capital at Enterprises, which holds 96.77 percentof the charter capital.
On the stock market, the price of GVR shares are traded at 12,600 VND pershare, an increase of more than 25 percent since the beginning of the year.
The company's revenue in 2019 reached 20 trillion VND, meeting only 83 percentof the yearly plan. Post-tax profit reached 3.99 trillion VND, fulfilling 96 percentof the year's profit target assigned by the General Meeting of Shareholders./.
VNA
