Trading of Haiphong Port’s shares, which are owned by Haiphong Joint Stock Company, started on August 12 on the Hanoi Stock Exchange.
The number of listed shares (code:PHP) is 326.96 million at the initial price of VND10,000 ($0.46), equaling the chartered capital of VND3.27 trillion ($150.4 million).
After the first day of trading, the market value rose to VND16,500 ($0.76) a share and the market capitalisation was at VND5.395 trillion ($248.2 million).
Haiphong Port is the largest port in the northern region, accounting for 40 per cent of the total cargo volume carried through Haiphong’s numerous ports.
In the first six months of this year 11.39 million tonnes of goods passed through Haiphong Port, up 17.5 per cent compared to the same period last year. The port made a revenue of VND837 billion ($38.5 million) and a pre-tax profit of VND191 billion ($8.8 million), producing an 11 per cent increase on-year, in the period.
According to the company’s plans for 2015, 23.5 million tonnes of cargo is expected to go through Haiphong Port, signifying a 19 per cent increase. The company’s revenue is estimated to stand at VND1.72 trillion ($77.8 million) with a profit of VND380 billion ($17.5 million).
In 2014, it reported a total revenue of more than VND1.57 trillion ($73.6 million) and profit of VND397 billion ($18.5 million).