September 10, 2007

Cuu Long Fish Corp gets listing on Vietnam's stock exchange

The Ho Chi Minh City Stock Exchange has listed the An Giang Province-based Cuu Long Fish Corp., on its board.

The company is the sixth aquaculture business at the exchange, with a 9 percent foreign investment stake.

On the first trading day, transactions were completed for over 217,000 shares of the company, whose chartered capital stands at VND90 billion (US$5.6 million).

According to the deputy general director Nguyen Xuan Hai, the company's exported US$18 million worth of fish and the figure is expected to reach US$28 million in 2007, with main markets in the Middle East and Europe.

The company is investing around VND360 billion (US$22 million) in four new projects, including a fish feed plant with an annual capacity of 200,000 tonnes, and a fish processing plant of 150,000 tonne capacity, to be completed in April next year.