Rubber group to move listing to HoSE

The Vietnam Rubber Group JSC (GVR) will move four billion of its shares listing on the Unlisted Public Company Market (UPCoM) to the Ho Chi Minh City Stock Exchange (HoSE).

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A worker of the Vietnam Rubber Group JSC (GVR) harvests rubber latex (Photo: cafef.vn)

The last trading session of GVR on UPCoM is March 6, 2020.

The company offered 475.1 million shares in an initial public offering (IPO) a year ago. As a result, only 499 investors registered to buy nearly 101 million shares, accounting for more than one fifth of the offered shares.

The average successful auction price was 13,011 VND (0.56 USD) per share. GVR collected 1.3 trillion VND through the IPO.

The group soon after that registered to list more than 99 million shares on the UPCOM. The number of shares registered for trading only accounts for a small part of the total number of the company’s shares.

More than a year later, in early July 2019, the Hanoi Stock Exchange approved the register of trading for another 3.9 billion GVR shares on the UPCoM, bringing the total number of shares trading on the stock market to four billion.

As of December 20, 2019, GVR has only one major shareholder, which is the Committee for Management of State Capital at Enterprises, which holds 96.77 percent of the charter capital.

On the stock market, the price of GVR shares are traded at 12,600 VND per share, an increase of more than 25 percent since the beginning of the year.

The company's revenue in 2019 reached 20 trillion VND, meeting only 83 percent of the yearly plan. Post-tax profit reached 3.99 trillion VND, fulfilling 96 percent of the year's profit target assigned by the General Meeting of Shareholders.

VNS/VNA