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Hai Phong Port JSC to list on stock exchange

Hai Phong Port Joint Stock Company lists on the Hanoi Stock Exchange with the code PHP on August 12. About 326.96 million shares will be listed with a reference price of 16,500 VND (76 US cents) each.

In the first six months of this year, the port carried 11.39 million tonnes of goods, an increase of 17.5 percent compared with the same period last year.

It earned nearly 837 billion VND (38.6 million USD) in revenue during that period, with pre-tax profits of nearly 191 billion VND (8.81 million USD), a year-on-year increase of 11 percent.

As planned, the port will receive about 23.5 million tonnes of goods this year, 19 percent higher than last year. It is expected to earn 1.72 trillion VND (79.37 million USD) in revenue and a profit of 380 billion VND (17.53 million USD).

The State had owned nearly 95 percent of the port’s capital, held by the Vietnam National Shipping Lines (Vinalines).

In November 2014, the group’s restructuring plan, approved by the Prime Minister, called for Vinalines to hold 65- 75 percent of Hai Phong port’s charter capital.