Business
Companies unveiled as Hapro's major shareholders
Thanh Cong Auto and An Phu Co. have become major shareholders of Hanoi Trade Corporation (Hapro), owning respective 15.31% and 17.7% stakes, announced the two firms.
On May 18, An Phu Co. purchased 31.8 million shares or 17.7% of charter capital, making itself a major shareholder of Hapro.
In a similar move, Thanh Cong Auto acquired a total of 27.5 million shares in Hapro, or 15.31% of charter capital after two transactions on May 23 and 28.
Hapro booked proceeds of VND980 billion (US$43 million) for the sale of 75.9 million shares in its initial public offering (IPO) on March 30 on the Hanoi Stock Exchange (HNX). The amount of shares on offer was equivalent to 34.51% of the company's charter capital.
Under the equitization plan approved by Deputy Prime Minister Vuong Dinh Hue last December, Hapro has a charter capital of VND2.2 trillion (US$96.8 million). After the IPO, the Hanoi People's Committee, which represents the State capital in the company, will no longer hold any shares in the firm.
N.A Vietnam Motor (Vinamco), a subsidiary of BRG Group, on January 26 won approval from the Hanoi People's Committee to become the strategic investor of Hapro. Thus, Vinamco is expected to purchase 65% of Hapro's shares with price not lower than the lowest successful bid at the IPO, that is, a minimum of VND1.83 trillion (US$80.5 million).
With more than 40 subsidiaries under its belt, Hapro operates a chain of supermarkets and convenience stores and owns many land plots and properties at prime locations in the country.
The company has been the first one owned by Hanoi People's Committee to initiate equitization.
Hapro's total revenue in 2017 reached VND4.4 trillion (US$193.6 million) with a pre-tax profit of VND76.9 billion (US$3.4 million), up 8% compared to 2016, announced the firm at its annual meeting on March 7.
Notably, the company's domestic revenue was reported at VND2.3 trillion (US$101 million), accounting for 53% of the total revenue and 95% of the revenue in 2016.
Hapro set the 2018 target revenue at VND5.07 trillion (US$222.5 million), up 14% on-year. Consequently, export turnover is expected to reach US$117 million, increasing 29% compared to 2017, taking its pre-tax profit to VND80 billion (US$3.5 million), an increase of 5% over last year.
Illustration photo.
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Hapro booked proceeds of VND980 billion (US$43 million) for the sale of 75.9 million shares in its initial public offering (IPO) on March 30 on the Hanoi Stock Exchange (HNX). The amount of shares on offer was equivalent to 34.51% of the company's charter capital.
Under the equitization plan approved by Deputy Prime Minister Vuong Dinh Hue last December, Hapro has a charter capital of VND2.2 trillion (US$96.8 million). After the IPO, the Hanoi People's Committee, which represents the State capital in the company, will no longer hold any shares in the firm.
N.A Vietnam Motor (Vinamco), a subsidiary of BRG Group, on January 26 won approval from the Hanoi People's Committee to become the strategic investor of Hapro. Thus, Vinamco is expected to purchase 65% of Hapro's shares with price not lower than the lowest successful bid at the IPO, that is, a minimum of VND1.83 trillion (US$80.5 million).
With more than 40 subsidiaries under its belt, Hapro operates a chain of supermarkets and convenience stores and owns many land plots and properties at prime locations in the country.
The company has been the first one owned by Hanoi People's Committee to initiate equitization.
Hapro's total revenue in 2017 reached VND4.4 trillion (US$193.6 million) with a pre-tax profit of VND76.9 billion (US$3.4 million), up 8% compared to 2016, announced the firm at its annual meeting on March 7.
Notably, the company's domestic revenue was reported at VND2.3 trillion (US$101 million), accounting for 53% of the total revenue and 95% of the revenue in 2016.
Hapro set the 2018 target revenue at VND5.07 trillion (US$222.5 million), up 14% on-year. Consequently, export turnover is expected to reach US$117 million, increasing 29% compared to 2017, taking its pre-tax profit to VND80 billion (US$3.5 million), an increase of 5% over last year.
