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CMC poised for listing


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Vietnamese IT firm CMC Corporation, which wholly owns fixed line licence-holder CMC Telecom, will list over 63.5 million shares on the HCM City Stock Exchange on 22 January 2010, becoming the second largest IT company listed on the bourse, Viet Nam News reports.
Vietnamese IT firm CMC Corporation, which wholly owns fixed line licence-holder CMC Telecom, will list over 63.5 million shares on the HCM City Stock Exchange on 22 January 2010, becoming the second largest IT company listed on the bourse, Viet Nam News reports.

‘We have prepared for the listing for the past two years,’ CMC chairman Ha The Minh commented, adding, ‘CMC is ready to embark on a new stage of faster and stronger development.’ The CMC, which was founded in 1993 and specialises in integrated systems, software, telecoms and mobile phone distribution, has a charter capital of VND720 billion (USD38.5 million), of which 64% is currently held by staff of the company, including the founding shareholders. The firm estimates earnings of VND3.6 trillion in 2009, representing a year-on-year increase of 58% and expects revenues to increase by 35%-40% per year over the next three years. It is targeting annual earnings of USD500 million by 2012.


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