Vietnam's Top Shrimp Exporter to Move to HCM City Bourse in Fourth Quarter

Minh Phu Seafood Corporation (MPC), Vietnam’s leading shrimp exporter, will move to the Ho Chi Minh City Securities Exchange from the Hanoi bourse in the fourth quarter this year.

 

The plan has been approved by the company’s shareholders meeting.

 

MPC is the fifth biggest firm listed on the Hanoi Securities Trading Center with a registered capital of VND700 billion.

 

Established in 1992 as a private firm, Minh Phu has become one of Vietnam’s leading seafood exporters with annual turnover of over VND2.3 trillion (US$143.7 million). It now has six subsidiaries, comprising four seafood processing firms, one farming business, and one breeder livestock firm.

 

MPC also confirmed on June 18 that the firm has sold 10 per cent stake, equivalent to 7 million shares, to Singapore’s investment firm Temasek Holdings.

 

MPC shares were traded at VND57,700 on June 19, compared with VND54,300 one month ago. (Vietnam Economic Times)