Moc Chau Milk (MCM) listed on HoSE with reference price of 42,800 VND

The Board of Directors of Moc Chau Dairy Cattle Breeding Joint Stock Company - Moc Chau Milk (Code: MCM) will list shares code MCM on the Ho Chi Minh City Stock Exchange on June 25. The expected reference price is 42,800 VND/share, approximately 11% lower than the price of UPCoM.

It is expected that the number of listed shares of Moc Chau Milk will be 110 million units, equivalent to a valuation of about VND4,710 billion on the first day of listing on HoSE.

Moc Chau Milk (MCM) will be listed on HoSE with a reference price of VND 42,800/share (Photo TL)

Moc Chau Milk, formerly Moc Chau Military Farm, was established in 1958. By 2005, the company had been equitized with an initial charter capital of about 7.1 billion VND.

At the end of 2019, Moc Chau Milk brand conducted an M&A deal and joined the Vinamilk (VNM) ecosystem. Moc Chau Milk shares were also listed on UPCoM about a year later.

Regarding business activities, in the first quarter of 2024, Moc Chau Milk recorded net revenue of 625 billion VND, gross profit reached 177 billion VND. Profit after tax reached nearly 50 billion VND, down by half compared to the same period.

According to the company's explanation, the reason was the decline in sales revenue due to the impact of the difficult economic situation in the first quarter of the year, leading to a decrease in consumer purchasing power. In addition, financial revenue also decreased during the period, affecting after-tax profit.

By the end of the first quarter of 2024, Moc Chau Milk's total assets reached VND 2,605 billion. Of which, equity accounted for the majority with VND 2,372 billion, and liabilities accounted for only VND 233 billion.

Source: https://www.congluan.vn/sua-moc-chau-mcm-niem-yet-san-hose-voi-gia-tham-chieu-42800-dong-post299542.html