Elcom to debut on HoSE

October 05, 2010 | 16:53

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Electronics Communications Technology Investment Development Corporation (Elcom), one of leading solution providers for telecommunication industry in Vietnam, will make its debut on Ho Chi Minh Stock Exchange on October 13.

Elcom (ELC) will debut 22.125 million shares at VND50,500 each with a 20 per cent trading band on each side of its first days, it told investors at a roadshow in Hanoi last week. Currently, ELC is traded at around 57,500 a share on UpCom, an electronic trading system for unlisted stocks.

“The listing of Elcom is not only to attract investment capital for development but also bring the company in particular and the country’s information technology sector in general into new highs,” said Phan Chien Thang, Elcom chairman.

Foreign investors will hold a 2.75 per cent. Its return on equity (ROE) is 41 per cent and return on asset (ROA) is 15 per cent, according to Saigon Securities Incorporated (SSI).

ELC aimed to earn VND164 billion ($8.6 million) profit and VND1.15 trillion ($60.4 million) in revenue this year, up 82 and 62 per cent, respectively, against 2009. It also plans to pay 2010 dividend at 30 per cent ratio on face value, against 25 per cent last year.

“With its risks and rewards, we recommend buy for ELC,” said Nguyen Trung Kien, SSI analyst.

By Trung Hung

vir.com.vn

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