and Service Joint Stock Company to list 100 million shares.
The shares, which will be listed under the code OCH, will debut on October 1, 2010.
"The share listing will enhance our financial capacity to implement
large-scale real estate projects nationwide," said the company's general
director Ta Thanh Thuy.
"Many foreign and domestic
investors have shown their interest in investing in our company. We are
on the way to choose suitable strategic partners," Thuy said.
Top priority will be given to investors with strong financial capacity
and rich management experience in the hotel and tourism industry, she
added.
The company, a subsidiary of Ocean Group, has
a charter capital of 1 trillion VND (52.6 million USD). Its business
interests include hospitality, hotels, restaurants, real estate,
infrastructure, housing and food processing.
The
company has co-operated with leading global design and hospitality
management groups in constructing 4-5 star hotels under the StarCity
trademark. Among these are the StarCity Westlake Hanoi, Novotel StarCity
Hoi An Resort, StarCity Nha Trang Hotel, StarCity Nha Trang Hotel,
StarCity Sai Gon Hotel and StarCity Airport Hotel.
Novotel StarCity Hoi An Resort and StarCity Sai Gon Hotel are scheduled to open this year.
The group posted a pre-tax profit of 86.7 billion VND (4.6 million
USD) in the first half of this year and is targeting a pre-tax profit of
163 billion VND (8.6 million USD) by the year-end.
In response to the huge potential of the real estate and tourism sectors
the company plans to continue pumping investment in these key areas,
Thuy said./.
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