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Interfood becomes first Malaysian company to trade on Vietnamese market
19 October 2006, Drinks Business Review
Interfood Shareholding began listing its stock on the Ho Chi Minh City Securities Trading Center on October 17, becoming the third foreign company and the first Malaysian company to list its shares on the Vietnamese stock market.
In its initial listing, Interfood shares were sold at a price of VND50,000 ($3.12) per share, reaching a total value of over VND6.6 billion ($414,000).
According to Pang Tee Chiang, Interfood's chairman and general director, the stock exchange will provide an additional source of capital for its expanding business.
The company reported net sales of $20.8 million in the first six months of the year and pre-tax earnings of almost $3 million. Sales are expected to reach $40 million by year-end.
Interfood's two factories in Vietnam's Dong Nai province produce over 200 products, including canned beverages, fruits, and biscuits.
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