The Viet Nam Construction and Import-Export Joint Stock Corporation (Vinaconex JSC) expects to raise its chartered capital from 1.5 trillion VND (93mio US$) to VND2 trillion (124mio US$) in the first quarter of the year.
To meet the mark, the corporation will issue shares targeted at potential foreign partners specialising in cement, construction material production, real estate and finance. The State will retain 51 per cent of the firm. It now controls 64 per cent of shares, worth 960 billion VND (59.6mio US$)
Vinaconex JSC expects to reach 5 trillion VND (312.5mio US$) in chartered capital by 2010 through the issuance of shares.
Aside from equitisation, the company’s road map for growth will depend on stock trading and the demand for development.
Since the firm’s first share issuance, the stake of six strategic investors – which include domestic banks, investment funds and securities companies – has increased more than three fold to reach 33 million shares.
Source: VNS
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