Vietnam's Biggest Catfish Exporter to Auction Shares in June

The Nam Viet Joint Stock Company (Navico), the biggest tra and basa catfish exporter in Vietnam, will auction six million shares Jun 21 via the Ho Chi Minh Stock Exchange Center, said Vietnam Association of Seafood Exporters and Processors (Vasep).

 

The Mekong Delta An Giang province-based company, which has chartered capital of VND600 billion, plans to sell shares at initial price of VND100,000 each.

 

After listing shares, it will continue to focus on building its third processing plant in An Giang with capacity of 700 tons a day, bringing the company’s total capacity to 1,300 tons a day.

 

The company aims to rake in $100 million from exports in 2007, up by $25 million from last year.

 

Navico’s top position in Vietnam is largely thanks to its cooperation with leading Dutch importer Seafood Connection (Season). The partners meet market demand for sustainable and well grown catfish, and have developed a detailed biological and ecological code of conduct regulating every step of the farming process.

 

This season Navico’s product is marketed under the Blue Planet brand, which guarantees no use of chemicals or genetically modified organisms (GMO) in feed or fish. (Labor, www.vietrade.gov.vn, www.agifish.com.vn)