Ngo Han Joint Stock Company, whose main product is electromagnetic wires of different types, has become the 232nd listed company on the HCM City bourse under the code NHW.
The Dong Nai Province– based company has a charter capital of VND230 billion (US$13 million). The fund management firm Mekong Capital represents nearly 31 percent and foreign individual investors, 6.5 percent.
The company is capable of producing more than 19,000 tonnes of uninsulated copper and enamelled aluminum wire annually.
The NHW enjoys 47 percent of the enamelled aluminum market, 35 percent of flat copper wire and 20 percent of enamelled copper wire. Its major customers include Sunshin Vietnam and Dongjin of Korea, Solen Vietnam and Shihlin of Taiwan, Ovi Cable of Malaysia and the ABB of Switzerland. This year it expects to earned VND61 billion in net profit and VND79 billion next year. The figure was VND41 billion in 2009.
The company closed its first trading day at VND26,400, up 20 per cent on its reference price of VND22,000.