PVFCCo North Floats Shares on HNX
North PetroVietnam Fertiliser and Chemicals Joint Stock Company (PVFCCo North), a member of PetroVietnam Fertiliser and Chemicals Corporation (ticker: DPM) - the largest fertiliser manufacturer in Vietnam, listed 12 million shares (ticker: PMB) on the Hanoi Stock Exchange (HNX) at a starting price of VND12,600.
PVFCCo North is a trader and distributor of Phu My-branded fertilisers and other fertiliser products with a business presence in 29 provinces and cities from Quang Binh to the North. This is a major agricultural production of the nation. Rice is a staple crop in the region while maize, potato, turnip, cabbage and tomato are also widely planted. With over 700,000 ha of arable soil, the region needs 700,000 tonnes of fertilisers a year. PVFCCo now holds 75 percent of stake in PVFCCo North.
After nearly eight years of construction and development, PVFCCo North has secured a strong foothold on the market with some 30 percent of market share. The company has a strong distribution and warehousing system capable of storing 50,000 tonnes of products.
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