A green park company is preparing a roadmap to divest all state capital.

UPC Green's Board of Directors assigned a team of experts to help develop a roadmap to divest 36% of the State capital invested in the company.

The Board of Directors of Vung Tau Urban and Green Park Development Joint Stock Company (UPC Green, code UPC, UPCoM floor) unanimously approved the establishment of a team of experts to assist the Council for appraisal of State capital shares to divest capital in the period 2022-2025 at this unit, based on the official dispatch dated September 28, 2023 of the People's Committee of Ba Ria - Vung Tau province.

Accordingly, the Board of Directors assigned a team of experts to assist in developing a roadmap for the divestment of 36% of State capital invested in the company. In addition, the Board of Directors also agreed in principle to organize the selection of contractors to select a valuation unit and a consulting unit to carry out the divestment work at the company.

UPC Green, formerly known as Green Park Company, was established in 1993. In 1999, the company was transformed into a state-owned enterprise. In 2009 - 2010, the company was transformed into Vung Tau Urban and Green Park Development Joint Stock Company. On June 19, 2009, the company successfully organized the first auction of shares. Currently, this unit has a charter capital of 34 billion VND. The company's main activities include management, care, protection, maintenance, repair, embellishment and planting of green parks... UPC Grenn has participated in consulting, designing and constructing hundreds of landscape projects.

According to the plan, on September 25, 2024, UPC Green will close the shareholder list to pay cash dividends in 2023 at a rate of 16%, equivalent to 1,600 VND per share. The ex-right date is September 24, 2024. Dividends will be paid to shareholders on October 10, 2024. Regularly paying cash dividends to shareholders, since listing on UPCoM, UPC Green has paid cash dividends every year at a rate of no less than 12%.

UPC Green registered to trade shares since 2010. Not many businesses operate in this field on the stock market. However, UPC shares, although listed for 14 years, rarely appear to be traded. Liquidity is low, the stock price is currently anchored at 25,000 VND.

Currently, the People's Committee of Ba Ria - Vung Tau Province is the largest shareholder of UPC Green with more than 1.2 million shares, accounting for 36%. In addition, the company has two other major shareholders, Chairman of the Board of Directors Le Huy Huu Hiep and Mr. Nguyen Duc Tai, former Chairman of the Board of Directors. The number of shares held by these two individuals is 1.08 million shares (31.74%) and 500,538 shares (14.72%), respectively.

Regarding business performance, from 2020 to present, UPC Green has recorded after-tax profits of over VND 10 billion/year. In 2023 alone, the company recorded VND 255 billion in net revenue, down 4.4% over the same period. After-tax profit reached VND 14.2 billion, down 3%. The company completed 83% of the revenue plan and 87% of the profit plan.

As of December 31, 2023, the company's total assets reached more than VND 167 billion, down 5.5% compared to the end of the previous year. Current assets decreased by 7% to nearly VND 120 billion, mainly due to a decrease in short-term receivables from VND 65.4 billion to VND 80 billion. The company's equity reached nearly VND 64 billion.

Source: https://baodautu.vn/mot-cong-ty-cong-vien-cay-xanh-chuan-bi-lo-trinh-thoai-sach-von-nha-nuoc-d226151.html