Thaco Group to list its shares on bourse

Truong Hai Auto Corporation (Thaco)has recently signed a listing consulting deal with Sacombank Securities Company. Accordingly, the corp is expected to list its shares on the Ho Chi Minh Stock Exchange (HoSE) this October.

Truong Hai Auto Corporation (Thaco), a strong automakers in the country, has recently signed a listing consulting deal with Sacombank Securities Company. Accordingly, the corp is expected to list its shares on the Ho Chi Minh Stock Exchange (HoSE) this October.

Truong Hai Auto Corp is expected to list on HoSE this October under consulting of Sacombank Securities Co.

Sacombank Securities Co. will also consult Thaco’s existing shareholders to sell 9.2 million shares to outsiders before listing. Thaco now has chartered capital of VND2.5 trillion and focuses on assembling and trading in cars, buses, and vans with popular makes such as Kia Morning and New Carens.

In the first half of the year, Thaco sold over 11,000 automobiles, holding a local market share of 22.1%.

In 2009, Thaco reported to reach VND6.59 trillion in revenues and VND723 billion in after-tax profits. The company this year expects to achieve over VND9 trillion in revenues and VND850 billion in after-tax profits.

Jardine Cycle & Carrige, a Singapore’s automobiles trading and distributing company, is a strategic foreign investor of the local automaker with ownership of nearly 30%.

Reported by P.V