Vietnam Investment Construction Export Import Holding Corp., which expects to raise about 70.4bio VND (4.4 mio US$) from the share sale on Dec. 26, will use the funds to develop real estate projects in Hanoi and industrial projects, including a hydropower plant, in the provinces..
The company, which has registered capital of 203bio VND, will sell 31.54% of its stake, via an OTC-auction. The shares will be offered to local and foreign investors at an initial price of VND11,000 each. Foreign investors can buy a maximum of 6.09 million shares or a 30% stake.
After the IPO, the state will own 57.82% of the equity, employees 2.2% and strategic investors 8.44%.
In 2005, the company, which is involved in a range of construction projects and services, reported a net profit of 21bio VND, a revenue of 1.7 trillion VND.
Source: Thanh Nien
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