This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cavico’s Subsidiary Cavico Industry And Minerals JSC Completes Registration Of Shares On Hanoi Stock Exchange

Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today announced that its consolidated subsidiary, Cavico Industry and Minerals JSC (“Cavico Minerals”), formerly known as Cavico Stone and Minerals JSC, has received approval to register its shares on the Hanoi Stock Exchange under ticker symbol: HNX: CMI.

Cavico Minerals registered 4.7 million of previously-issued common shares with a par value of 10,000 VND, which is the equivalent to USD $0.55 per share. The company does not anticipate selling or buying any of Cavico Minerals’ shares at this time.

On May 19, 2010 Cavico Minerals also signed an exclusive distributor agreement with Castrol BP Petco to distribute Castrol BP’s products in Laos. Cavico Minerals expects to generate approximately USD $3 million in revenue in the first year from the distribution activities.

Castrol BP established a presence in the Vietnamese market since 1989 focused on oil & gas exploration and production, production and distribution of lubricants and supplying crude oil to local refineries. The Company also has investments in Vietnam’s growing power industry.

Founded in March 2007 as a subsidiary of Cavico Corp., Cavico Minerals’ main business focus is mineral exploration and processing. Cavico Minerals has received the license to explore and process white stones (CaCO3) at Thung San Mine, in Thung San village, Nghe An province. The Thung San mine is located on 20 hectares of land and has approximately 4.22 million cubic meters of marble and 12.15 million tons of calcium carbonate. Cavico Minerals will be authorized to extract 88.6 thousand cubic meter of marble and 255 thousand tons of calcium carbonate per year for the next 30 years. Cavico Minerals also plans to build a calcium carbonate processing plant in the Nam Cam industry zone. The plant will be built on three hectares of land and have the capacity to process 70,000 tons of calcium carbonate per year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%
TSLA $266.15 0.00%
YHOO $36.67 0.00%


Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs