HNX to list two new stocks

The two new stocks are Petrovietnam Fertilisers and Chemicals Joint Stock Company (PVFCCo) and the Southern Books and Education Equipment Joint Stock Company (SOBEE), which are listed as PSW and SMN, respectively.

The PVFCCo will get listed on July 14 with a total 17 million shares, worth VND170 billion (US$7.79 million), for an initial market value of VND13,500 per share.

The company, founded in 2004 with VND170 billion in charter capital, produces and imports fertilisers for agricultural production, and provides other services such as transportation, warehouses and leasing offices.

Last year, PVFCCo earned VND3.54 trillion ($162.73 million) in revenue and VND31.9 billion ($1.46 million) in after-tax profits. The company aims to earn VND2.47 trillion ($113.6 million) in annual revenue in 2015 and 2016.

The other company, SOBEE, will issue about 4.4 million shares on HNX on July 17, worth VND44.05 billion ($2.02 million), for an initial market value of VND12,000 per share.

SOBEE was founded five years ago as a member of the education and training ministry's Vietnam Education Publishing House, with a charter capital of VND44 billion ($2.01 million).

The company distributes books and education equipment provided by the Vietnam Education Publishing House, publishes books, and sells other stuff such as souvenirs and toys.

The company has also invested VND15 billion ($688,000) in an office building in HCM City, equal to 30 per cent of the project, which is expected to open this year.

Last year, SOBEE earned VND313.2 billion ($14.36 million) in revenue, a slight increase over its 2013 revenue. The company aims to earn VND315 billion (14.4 million) in revenue and VND6.7 billion ($308,000) in after-tax profit.