Samsung Contractor Prepares to List Shares in Vietnam

Tuan Minh

18:34 13/09/2017

BizLIVE - Seoul Metal Vietnam will be among few companies where foreign investors hold controlling stakes to float shares in the Southeast Asian country.

Samsung Contractor Prepares to List Shares in Vietnam

The head office of Seoul Metal Vietnam in the Yen Phong Industrial Park, Bac Ninh, Vietnam. Photo: smtk.co.kr

Seoul Metal Vietnam Company (SMV) has received approval from the Vietnamese stock market watchdog to become a public company, a necessary step to list its shares on a local stock exchange.
Established in February 2008, SMV was wholly owned by South Korea’s Metal Tech Co and is based in the Yen Phong Industrial Park in the northern province of Bac Ninh. It produces screws, bolts and hi-tech components for mobiles and other electronic products, with a capacity of 2.4 billion products per year.
Its clients include transnationals such as Samsung, LG, Sanyo, Haier, Olympus and Sony. South Korean tech giant Samsung is the company’s largest partner, contributing 76% to its 2016 revenue.
The company has a registered capital of 112.69 billion dong ($4.9 million) as of end-2016, in which Seoul Metal Hong Kong Co. holds 43.92%, Global SM Tech Co. 15.48%, SCIC Investment 10.65%, and Mirae Asset Wealth Management Securities 2.66%.
It earned a net profit of 59.9 billion dong ($2.64 million) on net sales of 347.47 billion dong in 2016, increasing 39% and 31% from a year earlier, respectively.

TUAN MINH

Từ khóa: Samsung, LG, Sony, SCIC

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