On May 17th, 2017, HSX has officially approved the initial listing of 32.48 million shares for Transport & Industry Development Investment JSC (TRACODI) with its stock quote of TCD and charter capital of 324.8 billion VND.

In Q1 FY2017, the company’s revenue reached 167 billion VND, up by more than 90% over the same period of last year and profit after tax was 15.1 billion VND. TRACODI’s2017 General Annual Meeting 2017 has approved its 2017 business plan with a revenue of 879 billion VND, or 5.5% increase over 2016; and profit after tax of 63.67 billion VND, up by nearly 6%.

The company’s core business activities in 2017 includes accelerating its construction of Interstates 830 & 824 BOT project and filfulling the procedures required for social housing project in Long An Province. For quarrying, the company will increase production capacity and enhance marketing to key projects within the Mekong Delta. At the same time, TRACODI will try to fulfill the procedures required for the construction of Bamboo Prince Court tower. For the export and trade sectors, the company will take advantage of its affiliates to speed up exports of tapioca, coffee, microorganic fertilizer, etc.

TCD is scheduled to list on HSX on May 26th, 2017 at the starting price of 16,000 VND/share. The company’s 2017 Annual General Meeting has also approved TCD to pay a dividend of 6% for 2016 and a minimum dividend plan of 10% for 2017.

Company background:

TRACODI was previously the Transport Development Investment Corporation, under the Ministry of Transportation and Post, which was established in 1990. In the period of 1995-2007, TRACODI’s status quo was seperated and tranferred back to management under Civil Engineering Construction Corporation No.6, then under People’s Committee of Long An Province in 2005. After being converted into One Member Company Limited till 2013, TRACODI officially converted itself into a Joint Stock Company with shares held dominantly by the State. In 2015, TRACODI has officially operated as a 100% privatized company after SCIC divestment. TRACODI is well-known for its ability in constructing infrastructure; labor export; quarrying and import-export trading.