The Vietnam Rubber Group - JSC (VRG) on March 17 moved 4 billion shares coded GVR listed on the Unlisted Public Company Market (UPCoM) to the Ho Chi Minh City Stock Exchange (HoSE).

The ceremony marking the listing of GVR on the Ho Chi Minh City Stock Exchange
on March 17 (Photo: VNA)

The HoSE approved the listing of GVR stocks with a total value of VND40 trillion (nearly US$1.72 billion). The reference price on the first trading day was set at VND11,570 per share with the fluctuation range of ± 20%.

VRG Chairman Tran Ngoc Thuan said the listing on the HoSE will put the corporation in a better position and help it improve liquidity, attract more investors and heighten its reputation.

The company offered 475.1 million shares in an initial public offering (IPO) a year ago. With the average successful auction price at VND13,011 (US$0.56) per share, it collected VND1.3 trillion through the IPO.

The group soon after that registered to list more than 99 million shares on the UPCOM. More than a year later, in early July 2019, the Hanoi Stock Exchange (HNX) 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 4 billion.

As of December 20, 2019, the group has only one major shareholder, which is the Committee for Management of State Capital at Enterprises (CMSC), which holds 96.77% of the charter capital.

On the stock market, the price of GVR shares are traded at VND12,600 per share, an increase of more than 25% since the beginning of the year.

The company's revenue last year reached VND20 trillion, meeting only 83% of the yearly plan. Post-tax profit reached VND3.99 trillion, fulfilling 96 percent of the year's profit target assigned by the General Meeting of Shareholders.