PetroVietnam fertiliser arm becomes biggest blue-chip

05/11/2007 -- 10:17 PM

HCM City (VNA) - The PetroVietnam Fertiliser and Chemicals Company (PVFCCo) officially listed its 380 million shares coded DPM on the Ho Chi Minh City Stock Exchange (HOSE) on Nov. 5. PVFCCo, also known as Phu My Fertiliser, became the biggest firm listed at the HCM City bourse to date. Phu My Fertiliser - a subsidiary of the Viet Nam National Oil and Gas Group (PetroVietnam) - supplies almost half of the domestic market’s total fertiliser demand, with 740,000 tonnes of fertiliser and 35,000 tonnes of ammonia each year. The company reported revenues of 2.7 trillion VND (168.7 million USD) and a pre-tax profit of 850 billion VND (53.1 million USD) in the first nine months of this year. PVFCCo planned to outlay 1.5 billion USD as investment from now until 1025 to speed up production of fertilisers and chemicals.-Enditem
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