PetroVietnam fully present on HSX

October 07, 2015 | 11:00

(0) user say

Northern PetroVietnam Fertiliser and Chemicals (PVFCCo North) today debuted its shares on the Hanoi Stock Exchange, becoming the last member of PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo) to list.

Coded as PMB, 12 million shares have been registered for trading at the initial reference price of VND12,600 ($0.6) each. During the first trading session nearly 70,000 shares were traded at a volatile price fluctuating between the reference and the ceiling price of VND16,300 ($0.75).

Among the six listed tickers of the fertiliser industry, five are subsidiaries of PVFCCo, namely PMB , PVFCCo Central (PCE) , PVFCCo SouthWest (PSW) , PVFCCo SouthEast (PSE) and the Phu My Urea Fertiliser Package Jsc. (PMP). The companies appeared on the HNX scene in quick succession, within less than seven months since March 2015.
With their location of activities spanning across 29 provinces (from Quang Binh province northward), PMB specialises in fertilizers and chemical, agricultural, and forestry products, as well as transportation services. On average, PMB supplies the market with roughly 200,000 tonnes of fertilizers annually, of which Phu My’s—the flagship brand and mother company’s—products account for nearly 80 per cent. About 30 per cent of the covered location’s demand is met by the aforementioned provisions.

For the entirety of its eight-year operation, PMB has always surpassed its annual sales targets, maintaining its return on equity ratio (ROE) at a high 12 – 17 per cent per annum.

Established on December 27, 2007, PMB was transformed into a joint stock company on January 30, 2011 with a chartered capital of VND120 billion ($5.4 million).

By By Thanh Xuan

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional