Cotec Construction Joint Stock Company (Coteccons) will list 18.45 million shares for the first time on the HCM City Stock Exchange on January 20.
The shares will be listed under the code of CTD and have a face value of VND10,000 (US$0.5). The reference price for the first day of trading will be set at VND95,000 ($5.1) with a fluctuation rate of plus/minus 20 percent.
Coteccons is a former construction division of the Technical Construction and Building Material Company, an affiliate of the Building Material Corporation No 1 (Fico) - Ministry of Construction. It was privatised as a joint stock company in August 2004.
The company, with a charter capital of VND184.5 billion ($9.8 million), specialises in construction of civil and industrial projects, infrastructure and water supply, drainage and treatment. It also has expertise in the installation of cables, industrial equipment and mechanical and electrical systems, and offers consultancy on investment and project management.
"Coteccons has great development potential in the context of economic recovery since the construction demand for civil and industrial projects has been increasing. The company targets to double its current revenue to VND4-5 trillion ($213-266 million) over the next five years," said chairman Nguyen Ba Duong.
The company has signed construction contracts worth a total of VND1.7 trillion ($90.4 million) which Duong said put the company well on the way to hitting its revenue target of over VND2.1 trillion ($111.7 million) set for this year.
Notable projects include Ocean VILLAS and Marble Mountain Beach Resort in Da Nang and the International Cargo Station project at Tan Son Nhat Airport, HCM City.
At the end of this year, Coteccons HCM City-based office block, Plaza, will be put into operation and is expected to generate stable annual profits for the company.
Last year, Coteccons earned a net profit of VND220 billion ($11.7 million), exceeding its target by over 69 per cent. Its earnings-per-share reached VND11,900 ($0.6).