phuocpham
18-12-2009, 09:50 PM
Sai Gon-Quy Nhon Mining Co (SQC) listed 100 million shares on the Ha Noi Stock Exchange yesterday, becoming the 248th code and the fifth mining company listed on the capital city’s bourse.
In the first day of trading, SQC shares closed unchanged at VND81,000 (US$4.40) on a volume of just 5,000 shares.
The company is a member of the Sai Gon Invest Group (SGI) and International Titanium Associates, founded in 2006, specialising in titanium ore exploitation and processing, and infrastructure development for titanium processing.
The first phase of the company’s titanium slag plant in Phu My District in the central province of Binh Dinh began operations in July with an annual capacity of 60,000 tonnes of titanium slag and 30,000 tonnes of cast iron.
"The company’s titanium products, used in automobile manufacturing, medical technology, and aviation, will create added value for investors and make further contributions to society and the scientific and technological development of Viet Nam," said SQC chairwoman Dang Thi Kim Phuong.
"The listing demonstrates the company’s determination in integration and development, striving to become the leading mining company in Viet Nam, especially titanium," she said.
SQC has a charter capital of VN1trillion ($54.05 million) and posted profits of VND49.8 billion ($2.7 million) in the first nine months of this year. It has plans to invest in a steel plant, as well as obtain the engineering, procurement and construction (EPC) contract for an additional titanium slag plant.
Ha Noi Stock Exchange General Director Tran Quang Dung said the listing of a titanium-specialised mining company like SQC generated new high-quality shares for the market and gave investors a wider range of choices.
In the first day of trading, SQC shares closed unchanged at VND81,000 (US$4.40) on a volume of just 5,000 shares.
The company is a member of the Sai Gon Invest Group (SGI) and International Titanium Associates, founded in 2006, specialising in titanium ore exploitation and processing, and infrastructure development for titanium processing.
The first phase of the company’s titanium slag plant in Phu My District in the central province of Binh Dinh began operations in July with an annual capacity of 60,000 tonnes of titanium slag and 30,000 tonnes of cast iron.
"The company’s titanium products, used in automobile manufacturing, medical technology, and aviation, will create added value for investors and make further contributions to society and the scientific and technological development of Viet Nam," said SQC chairwoman Dang Thi Kim Phuong.
"The listing demonstrates the company’s determination in integration and development, striving to become the leading mining company in Viet Nam, especially titanium," she said.
SQC has a charter capital of VN1trillion ($54.05 million) and posted profits of VND49.8 billion ($2.7 million) in the first nine months of this year. It has plans to invest in a steel plant, as well as obtain the engineering, procurement and construction (EPC) contract for an additional titanium slag plant.
Ha Noi Stock Exchange General Director Tran Quang Dung said the listing of a titanium-specialised mining company like SQC generated new high-quality shares for the market and gave investors a wider range of choices.