January 15, 2007

Vietnam's Navico to list on Ho Chi Minh City bourse

An Giang-based Nam Viet joint stock company (Navico), one of Vietnam's largest "tra" catfish producers, plans to make initial public offering at the Ho Chi Minh City Security Trading Centre in the first quarter of 2007.

Navico, with a 1,300- tonne production capacity per day, is running three "tra" catfish processing factories, a fish oil and fish powder processing factory and also into packaging.

The company led the country's seafood export business worth US$160 million in 2006.

Its exports turnover target for 2007 was set at US$200 million.

The company also plans to export to 60 countries, adding eight more destinations to its current list of 52 trade partners.