CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Companies unveiled as Hapro's major shareholders
Ngoc Thuy 08:44, 2018/06/16
Thanh Cong Auto and An Phu Co. have become major shareholders of Hanoi Trade Corporation (Hapro), owning respective 15.31% and 17.7% stakes, announced the two firms.
On May 18, An Phu Co. purchased 31.8 million shares or 17.7% of charter capital, making itself a major shareholder of Hapro.
 
Illustration photo.
Illustration photo.
In a similar move, Thanh Cong Auto acquired a total of 27.5 million shares in Hapro, or 15.31% of charter capital after two transactions on May 23 and 28.
Hapro booked proceeds of VND980 billion (US$43 million) for the sale of 75.9 million shares in its initial public offering (IPO) on March 30 on the Hanoi Stock Exchange (HNX). The amount of shares on offer was equivalent to 34.51% of the company's charter capital. 
Under the equitization plan approved by Deputy Prime Minister Vuong Dinh Hue last December, Hapro has a charter capital of VND2.2 trillion (US$96.8 million). After the IPO, the Hanoi People's Committee, which represents the State capital in the company, will no longer hold any shares in the firm. 
N.A Vietnam Motor (Vinamco), a subsidiary of BRG Group, on January 26 won approval from the Hanoi People's Committee to become the strategic investor of Hapro. Thus, Vinamco is expected to purchase 65% of Hapro's shares with price not lower than the lowest successful bid at the IPO, that is, a minimum of VND1.83 trillion (US$80.5 million).
With more than 40 subsidiaries under its belt, Hapro operates a chain of supermarkets and convenience stores and owns many land plots and properties at prime locations in the country.
The company has been the first one owned by Hanoi People's Committee to initiate equitization.
Hapro's total revenue in 2017 reached VND4.4 trillion (US$193.6 million) with a pre-tax profit of VND76.9 billion (US$3.4 million), up 8% compared to 2016, announced the firm at its annual meeting on March 7. 
Notably, the company's domestic revenue was reported at VND2.3 trillion (US$101 million), accounting for 53% of the total revenue and 95% of the revenue in 2016. 
Hapro set the 2018 target revenue at VND5.07 trillion (US$222.5 million), up 14% on-year. Consequently, export turnover is expected to reach US$117 million, increasing 29% compared to 2017, taking its pre-tax profit to VND80 billion (US$3.5 million), an increase of 5% over last year. 
Comments
Other news
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.