The Viet Nam Securities Depository allocated PetroVietnam Ca Mau Fertilizer Co. Ltd., a leading fertilizer producer in Viet Nam, a new securities trading code of DCM on March 18.

PetroVietnam Ca Mau Fertilizer Co. Ltd gets a new securities trading code of DCM on March 18. Photo baocamau.com

Based in Ward 1 of the southern Ca Mau Province, the company is expected to list on the HCM City Stock Exchange this month.

The depository said DCM has a charter capital of VND5.294 trillion (US$74 million), equivalent to 529.4 million shares.

In December 2014, DCM had successfully sold about 129 million shares during its IPO at an average price of VND12,251 per share, earning VND1.58 trillion ($74 million). The shares' value, based on the IPO, accounted for 24.36 per cent of the company capital.   

The Viet Nam Oil and Gas Group PetroVietnam PVN currently holds 75.56 per cent of the capital in DCM. As planned, PVN will reduce its ownership to 51 per cent by selling 24.36 per cent to a strategic partner.

On March 10, it also welcomed Japanese investor Mitsui & Co. Ltd., as a strategic partner.

According to PVN, after more than three years of official operations selling commercial products, DCM has produced and sold over 2 million tonnes of high-quality fertilizer and become the farmers' companion.

DCM is considered the one of country's largest producers, and supplies 65 per cent of the fertilizers to the south-western market and more than 30 per cent for the south-eastern market, which is the agriculture hub of Viet Nam.

Also, the Ca Mau Fertilizer plant is located next to the Mekong Delta and also services the two rice hubs of Cambodia, Thailand.

Meanwhile, Mitsui & Co. Ltd. operates as a general trading company worldwide.

Bloomberg.com had reported that it has grown its revenue from $39.6 billion to $46.4 billion.

On March 20, Mitsui & Co. Ltd. shares closed at JPY1,657 ($13.6) on the Tokyo Stock Exchange.