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Screw manufacturer plans HOSE listing

Seoul Metal Vietnam Joint Stock Company (SMVC) is completing essential documents to seek a listing on the HCM Stock Exchange, expected to start trading this October.– Photo tinnhanhchungkhoan.vn

HÀ NỘI – Seoul Metal Vietnam Joint Stock Company (SMVC) is completing essential documents to seek a listing on the HCM Stock Exchange, expected to start trading this October, the company has announced.

Founded in  二00 八, the company has a charter capital of VNĐ 一 四 五 billion (US$ 六. 四 million), equivalent to  一 四. 五 million shares. China-based Seoul Metal (H.K) Co Ltd, a subsidiary of Global SM Tech Ltd, is the biggest stakeholder with a  三0. 九 八 per cent, while its parent company holds  一 四. 四 一 per cent.

State Capital Investment Corporation (SCIC) and EVN Finance own  一0. 六 五 per cent and  六. 三 七 per cent, respectively.

SMVC manufactures nails and micro screws for production of mobile phones, printers and cameras. Its largest client is Samsung, which accounts for  七 五 per cent of its revenue, followed by another Korean company, LG, with  一 一 per cent.

SMVC’s CEO Cha Gyun Young said during a roadshow on Monday that the listing is designed to help the company increase the localisation rate in production and mobilise capital for its expansion plan, including buying machines and enlarging business scale. – VNS