Vietnam Enterprise Investment and Development JSC (VNDI) will list 10 million shares on the Hanoi Stock Exchange. The timing of the listing has not been given.
The stock will be coded as FID. The shares are equivalent to VND100 billion ($4.65 million) in par value, the exchange announced.
Established in 2010 in Hanoi, VNDI holds controlling stake of more than 50 per cent in Hoa Binh THT Mineral Investment Co Ltd and Vietnam Trading and Construction Investment JSC, which specialises in the installation of electrical systems, industrial equipments and selling building materials.
VNDI’s operations include, the business of metals and metal ores, construction materials, machineries, merger and acquisition (M&A) consultancy and real estate brokerage. Metals and metal ores trading last year accounted for the biggest proportion in the company’s revenue, standing at 82 per cent.
The company also owns a real estate trading platform, called the VNDI Land, which has distributed some typical projects such as the Thang Long Garden apartment and trade centre complex, Cho Mo Plaza (both in Hanoi), and Cat Ba Amatina in the coastal Hai Phong city.
In 2015, VNDI targets to boost the operation of VNDI Land through promoting large realty projects Hanoi and Ho Chi Minh City, as well as exclusively distributing the projects that it invests in.
The company will also expand its activities of M&A and business restructuring consultancy. According to information on the company’s website, It has been the financial advisor for a spate of Vietnamese private and state-owned firms, such as construction giants Cienco 4 and 5, Licogi 9, Lilama Corporation and Vinaconex, financial conglomerate Ocean Group, the State Capital Investment Corporation and the Vietnam National Chemical Group.
VNDI aims to have a profit after tax of VND18.5 billion this year, climbing 56 per cent over 2014. Dividends for shareholders are expected to be paid at 15 per cent.