Telecom giant Viettel and the State Capital Investment Corporation(SCIC) will auction off all their stakes in the Vietnam Construction and Import-Export JSC (Vinaconex), according to the Hanoi Stock Exchange (HNX).
Hanoi (VNA) – Telecomgiant Viettel and the State Capital Investment Corporation(SCIC) will auctionoff all their stakes in the Vietnam Construction and Import-Export JSC (Vinaconex),according to the Hanoi Stock Exchange (HNX).
HNX will hold two auctions ofthe stakes on November 22, at which Viettel will sell a batch of over 94million Vinaconex shares, equivalent to a capital contribution of more than 940billion VND (40.87 million USD) or 21.28 percent of Vinaconex’s chartercapital. The starting price for the batch is over 2 trillion VND (86.96 millionUSD), or 21,300 VND for each share.
Meanwhile, SCIC will offer a lotof over 254.9 million shares equivalent to a capital contribution of nearly2.55 trillion VND (110.83 million USD), or 57.71 percent of Vinaconex’s chartercapital. The starting price for the lot is nearly 5.43 trillion VND (236.1million USD), or 21,300 VND apiece.
Vinaconex is the firstState-owned corporation to equitise. Its shares coded VCG were officiallylisted on the HNX in 2008.
The firm’s charter capital now standsat over 4.47 trillion VND (192 million USD) in charter capital. Its three main shareholdersare SCIC which holds a 57.71 percent stake, Viettel 21.28 percent, and PYN EliteFund 7.54 percent.
Vinaconex’s core area ofbusiness is construction, but it is also active in property development,industrial production, construction materials and import-export.
In 2017, Vinaconex reported revenuesof 10.89 trillion VND (473.48 million USD) and after tax profit of 1.63trillion VND (70.87 million USD).-VNA
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An divestment auction on HNX (Source: VNA) 
