HCM City Stock Exchange listed two new companies yesterday, Sao Mai Investment and Construction Corporation of An Giang Province (ASM) and Foreign Trade Development and Investment Corp of HCM City (FDC), bringing the total listed companies to 227.
The real estate and seafood processing for export company, ASM, which has a charter capital of VND99 billion (US$5.3 million), will increase its capital this year to VND150 billion and issue bonds worth VND300 billion in face value.
The ASM has a land fund of 200ha in southern provinces for 17 projects with six already completed.
This year it will develop its first HCM City project comprising apartments and office space with an investment of over VND1 trillion, according to chairman Le Thanh Thuan.
Thuan said his company also plans a 260ha seaport and industrial park complex in Dong Thap Province for the 2010-15 period, with an investment of VND1.5 trillion.
FDC Chairman Tran Huu Chinh said his company, with a charter capital of VND143 billion, enjoyed a net profit of around VND50 billion in 2009.
He said he expected profits to increase this year with the recent opening of Fideco Tower in HCM City’s District 1, which is expected to collect US$4.2 million.
The FDC holds some major stakes in several projects scheduled this year, including the 126 ha Dong Binh Duong Urban Area and the 30ha Long Hoa – Can Gio Resort in HCM City.
The ASM closed its first trading day at VND45,000 compared to the reference price of VND38,000. The FDC’s closing price was VND43,400 on the VND40,000 reference.