The Ho Chi Minh Stock Exchange (HoSE) has approved the listing of four billion shares for the Vietnam Rubber Group JSC (VRG).
|Rubber latex harvested at a VRG farm. - Photo cafef.vn
The company filed for HoSE listing on October 22 last year. The deal was underwritten by ACB Securities Co Ltd.
The largest rubber company by market capitalisation started trading shares on the Unlisted Public Company Market (UPCoM) on March 21, 2018 under code VRG.
It was equitised on June 1, 2018. VRG shares fell 1.7 per cent to close Monday at VND11,500 (US$0.50) per share.
VRG is the biggest firm by charter capital on UPCoM with a capital of VND40 trillion.
If listed, the company will become the second largest company by charter capital on HoSE, behind the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).
In 2019, the company estimated total revenue of VND29.8 trillion and pre-tax profit at VND5.13 trillion.
The company has beaten its full-year revenue target by 23 per cent but fell short of its profit goal by 2 per cent.