HNX will hold two auctions of the stakes on November 22, at which Viettel will sell a batch of over 94 million Vinaconex shares, equivalent to a capital contribution of more than VND 940 billion (USD 40.87 million) or 21.28 percent of Vinaconex’s charter capital. The starting price for the batch is over VND 2 trillion (USD 86.96 million), or VND 21,300 for each share.

leftcenterrightdel
An divestment auction on HNX

Meanwhile, SCIC will offer a lot of over 254.9 million shares equivalent to a capital contribution of nearly VND 2.55 trillion (USD 110.83 million), or 57.71 percent of Vinaconex’s charter capital. The starting price for the lot is nearly VND 5.43 trillion (USD 236.1 million), or VND 21,300 apiece.

Vinaconex is the first State-owned corporation to equitize. Its shares coded VCG were officially listed on the HNX in 2008.

The firm’s charter capital now stands at over VND 4.47 trillion (USD 192 million) in charter capital. Its three main shareholders are SCIC which holds a 57.71 percent stake, Viettel 21.28 percent, and PYN Elite Fund 7.54 percent.

Vinaconex’s core area of business is construction, but it is also active in property development, industrial production, construction materials and import-export.

In 2017, Vinaconex reported revenues of VND 10.89 trillion (473.48 million USD) and after tax profit of VND 1.63 trillion (USD 70.87 million).

Source: VNA