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Vietnamese postal giant eyes listing of nearly 122mn shares on HoSE

Vietnamese postal giant eyes listing of nearly 122mn shares on HoSE

Friday, October 27, 2023, 10:12 GMT+7
Vietnamese postal giant eyes listing of nearly 122mn shares on HoSE
Vietnam's leading postal firm Viettel Post Joint Stock Corporation, whose VTP shares are traded on the Unlisted Public Company Market, has registered to shift around 121.8 million VTP shares to the Ho Chi Minh City Stock Exchange. Photo: VTP

Vietnam's leading postal firm Viettel Post Joint Stock Corporation, whose VTP shares are traded on the Unlisted Public Company Market (UPCoM), registered to shift around 121.8 million VTP shares to the Ho Chi Minh City Stock Exchange (HoSE), HoSE vice-general director Tran Thi Anh Dao announced on Thursday.

Vietcap Securities JSC serves as a consulting unit for Viettel Post to seek approval to list its shares on the southern bourse.

If Viettel Post gets the green light for the shift, the postal company will be able to raise its capital and enhance its prestige more easily.

As for its business performance, Viettel Post booked close to VND9.78 trillion (US$402.2 million) in revenue and nearly VND219 billion ($9 million) in pre-tax profits in the first half of 2023, exceeding its targets by 112 percent and 103 percent, respectively.

Turnover from postal services, its core business, rose nearly 26 percent against the same period last year.

With its charter capital of nearly VND1.218 trillion ($50 million), Viettel Post, a subsidiary of Vietnamese military-run telecom group Viettel, specializes in domestic and international express delivery, logistic, fulfillment, and e-commerce services.

Aside from member companies of Viettel Group, many state-owned enterprises are trading its shares in the local stock market, including Dong Phu Rubber JSC, Dinh Vu Port Investment and Development JSC, VNSteel - Ho Chi Minh City Metal Corporation, Petrovietnam Fertilizer & Chemicals Corporation, Petrovietnam Fertilizer & Chemicals Corporation, and others.

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Hong Ngan - Bong Mai / Tuoi Tre News

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