OPC Pharmaceutical, will auction off 600,000 shares through the HCM City Securities Trading Centre on Feb. 1.
The firm hopes the auction will generate about 65 billion VND (4.1 million US$), said Le Minh Diem, chairman of the company's management board.
The money is slated for several large projects including a plant in Binh Duong province and warehouses in Ha Noi, Da Nang and Can Tho.
The shares will be offered at 42,000 VND (2.6 US$) a piece.
OPC was established in 1977 as a joint venture between eight HCM City pharmacies. The company was equitised in 2002, the first such move in the pharmaceutical sector.
Revenues at the end of the third quarter of 2006 were 110 billion VND (6.8mio US$), and a profit reached 20.2 billion VND (1.3mio US$).
The company last year paid dividends at 18%, a rate that will remain the same this year. However, the company plans to raise dividends to 20% in the future, said Diem.
He also added that the company hopes to double its chartered capital to 80 billion VND (5mio US$)
Source: VNA
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