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Catfish Exporter To List On HCM City Stock Exchange

VIET NAM - Tien Giang Province-headquartered Hung Vuong Corporation, leading exporter of tra and basa catfish, is expected to get on the board of the HCM Stock Exchaange next Wednesday with a reference price of VND55,000.

The company, which began operations in 2003, specialises in aquaculture, seafood processing, animal food production, cold storage and real estate businesses.

It runs seven factories in the three provinces of Tien Giang, Vinh Long and Soc Trang with a combined processing capacity of 800 tonnes of materials per day.

It owns 150ha of aquaculture farms that meet 50 per cent of its material demand. The company plans to increase this area to 200ha. It is already co-operating with farmers to source output from another 150ha.

Hung Vuong Corp’s catfish sales to overseas markets in the first nine months of this year were valued at US$100 million. The figure is expected to rise to $150 million at the year end.

Viet Nam’s catfish exports are anticipated at $1.2 billion this year. Its major markets include Russia, Ukraine and others in the EU and the Middle East.

The company has a cold storehouse of 42,000 tonnes at HCM City’s Tan Tao Industrial Park, and is preparing to develop a commercial and another apartment building project in HCM City.

It targets a net profit of VND360 billion ($20 million) this year, up 110 per cent from 2008. The profit is expected to reach VND500 billion in 2010 and VND700 billion in 2010.

Shareholders may receive 30 per cent dividend each year until 2010.

Hung Vuong has a charter capital of almost VND600 billion with foreign investors owning more than 12 per cent.

the Fish Site Editor

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