New shares listed in HCM City

Lix Detergent (LIX) with 9 million shares and Agribank Securities Companies (AGR) with 120 million shares will today, December 10, become the latest firms to list on the HCM City Stock Exchange (HoSE).

The preference price for the first trading day at HoSE was set at VND72,000 (US$3.9) for LIX and VND32,000 (US$1.7) for the securities company.

Last year, LIX earned almost VND30 billion in net profits, up 89 per cent over 2007. The first nine months of this year it fetched profits of VND83 billion, according to the latest stock exchange report.

The HCM City-headquartered LIX runs factories in the city and Ha Noi with a combined capacity of 175,000 tonnes per year. It is building a new factory with a capacity of 60,000 tonnes per year in southern Binh Duong Province’s Dai Dang Industrial Park.

The Ha Noi-headquartered Agriseco, recorded modest net profits of VND35 billion last year, falling 73 per cent from 2007 figure.

It bounced back strongly this year, gaining VND295 billion in net profit in the first nine months, with Q3 alone accounting for VND224 billion.

Tomorrow, TIE, a leading distributor of electronic, telecommunication and IT products in the country, will become a listed company on the HoSE.

This HCM City-based company, with a charter capital of almost VND96 billion, will have a reference price of VND34,000.

TIE plans to enter electrical tool production through a joint venture with a US partner. The new firm is expected to begin operations early next year.

TIE also has several real estate projects in the pipeline.

VietNamNet/Viet Nam News