Crystal Plastic Manufacturing and Technology Joint Stock Company (PLP) is issued by Ho Chi Minh Stock Exchange. HCM (HOSE) approved the listing. Accordingly, 15 million PLP shares will officially be traded from August 21 with a starting price of VND 12,000 / share.
Established since 2008, PLP is an auxiliary manufacturing company in the plastic industry with the main products being stone powder and plastic fillers. Currently, PLP owns 5 mineral mines including 2 Granite quarries in Ninh Thuan and 3 white marble quarries in Nghe An.
In the first 6 months of 2017, PLP achieved net revenue of 144.7 billion dong and net profit of 24.7 billion dong, while the same period last year lost 3 billion dong. In 2017, Crystal Plastic sets a target of VND 350 billion in revenue, VND 40 billion in after-tax profit, and a dividend payout ratio of 10%.
On September 1, 2017, Pyn Elite Fund (Non-Ucits) bought 1,000,000 shares of Crystal Plastic Manufacturing and Technology Joint Stock Company (PLP).
According to information, Pyn Elite Fund (formerly Mutual Fund Elite) is a familiar name to Vietnamese investors in the past few years. In the newly released report, Pyn Elite Fund – one of the largest foreign funds investing in Vietnam said its total assets on May 15, 2017 reached 387 million Euro. In particular, Pyn Elite Fund allocated 97% of the portfolio into stocks in Vietnam stock market, equivalent to 375.39 million Euro (VND 9,576 billion), the rest was cash.
After the transaction was made, Pyn Elite Fund increased its ownership in PLP to 6.67%.
This is one of the positive signals in the relationship between the two sides, in addition to confirming the confidence of investors in Crystal Plastic in the near future.
By cafeF