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Picomat’s 20 million shares make debut on HNX

The Saigon Times

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HCMC – Picomat Plastic JSC traded its 20 million PCH shares on the Hanoi Stock Exchange (HNX) today, July 28, with a reference price at VND11,000.

In the first trading session, PCH skyrocketed to its upper limit at VND14,300 with 793,900 shares changing hands, Dau tu Chung khoan news site reports.

Picomat was established in 2010 as a limited company which mainly manufactured plastic and rolling doors. In late 2018, it was converted into a joint stock company and renamed Picomat Plastic JSC with charter capital of VND30 billion. In March this year, it conducted an IPO (initial public offering) to raise its charter capital to VND200 billion.

Dao Thi Kim Oanh, general director at Picomat, said the company looks to increase its charter capital from VND200 billion to VND300 billion this year to fund its business operations. The company is prioritizing the production of its traditional products to firmly hold its market share and stabilize its sales, in addition to studying new product lines to diversify its product portfolio.

PCH is the fifth stock to be traded on the Hanoi market this year, raising the total number of stocks transacted on this Hanoi bourse to 344.

The VN-Index of the HCMC exchange rose 17.08 points, or 1.43%, over the session earlier at 1,208.12, with as many as 378 stocks advancing and 90 others declining. More than 668 million shares valued at over VND15.3 trillion were traded on the southern bourse, improving over 50% in volume and 53% in value compared to yesterday.

The HNX-Index on the Hanoi market also ended in positive territory. It added 5.32 points, equal to a 1.87% rise at 289.84, with 167 winners and 47 losers.

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