Second Cement Firm Hits Hanoi Bourse

Second Cement Firm Hits Hanoi Bourse
Published: 07 December 2006

But Son Cement Company yesterday listed all its 90m shares on the Hanoi Securities Trading Center (HASTC), becoming the second cement producer on the bourse. 
The shares, coded BTS, debuted at an average price of VND23,900 on 48,000 shares changing hands.  
With registered capital of VND900 billion ($56.3m), But Son Cement has become the fourth biggest company on the HASTC, behind the Pha Lai Thermo-power Co, Asia Commercial Bank and Bao Minh Insurance Co, but equivalent to the capital of the first cement firm, Bim Son Cement Co.  
Like Bim Son, But Son specializes in producing and trading cement products, clinker and other construction materials. 
The Thanh Hoa-based company looks to book revenue of VND663.6bn and net profit of VND63 billion in 2006, down from revenue of VND992bn and profit of VND75.2bn in 2005. However, its 2007 revenue is expected to rise sharply to VND1 trillion and profit to VND90.4 billion in 2007. ($1 = VND16,000).