Cotecland listed on Ho Chi Minh Stock Exchange

Ten million shares of Cotec Investment & Land-House Development Joint Stock Company (Cotecland) were officially listed on the Ho Chi Minh Stock Exchange under the stock symbol CLG on August 9.

Cotecland is part of the Cotec Group, went public in 2004; they mainly operate in the fields of construction and real estate. Its current chartered capital is VND100 billion, of which the Cotec Group holds 51 percent.

According to the company’s prospectus, revenues from real estate trading sharply rose in 2009, reaching VND18.6 billion, accounting for 74.87 percent of net profits. While revenues from real estate services were at VND5.7 billion, accounting for 22.98 percent of net profits.

In the first quarter of this year, revenues from real estate trading spiked 298.66 percent over last year, accounting for 97.06 percent of the company’s total revenue.

Cotecland will implement 14 real estate projects, including offices, trade centers, residential areas, and resorts in Ho Chi Minh City, Binh Duong Province, Vung Tau, Hoi An and Danang cities during the 2010 – 2012 period.

By S.Nau – Translated by Que Chi

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