The Song Hong Garment JSC will debut on the Ho Chi Minh security exchange (HoSE) on November 28 by listing more than 47.6 million shares with the code MSH, the market said in a statement.

The company will start trading at the price of VND45,000 (US$1.93) per share, making its market capitalisation up to VND2.14 trillion (US$91.9 million) on the debut day.

The company’s shares are able to increase or decline within a daily band of 20% on the debut day, meaning its price may rise as high as VND54,000 or fall as far as VND36,000 by the end of the debut.

The company, headquartered in the northern province of Nam Dinh, produces garment products for both domestic and overseas markets and was founded in 1988.

As of October 1, the company had 511 shareholders, including four institutional investors and 507 individuals.

From 2014 to 2017 the company’s profit kept increasing from VND142 billion to VND200.4 billion. In the first nine months of 2018, the company recorded nearly VND3 trillion in net revenue, a yearly increase of 21%, and VND273 billion in net profit, a yearly growth of 100%.

From 2015 to 2017, the company paid 45% dividend in cash each year. The cash dividend payout rate is planned at 35-40% for 2018 and 35% from 2019.

The Song Hong Garment JSC targets a 7% year-on-year revenue rise for 2018, to land at VND3.5 trillion. Its profit gained 15% to VND230 billion.