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SCIC reveals plans to offload additional shares in December

VNA Print

Illustrative photo (Source:VNA)

Hanoi (VNA) - The State Capital Investment Corporation (SCIC) has announced the sale of shares in more companies under a restructuring plan on its website.

Up to 24,714 shares or 38.5 percent of Nhat Nhat Tan JSC are to be on offer, at 13,800 VND (61 US cents) each in an auction on December 30. The company, with 19 billion VND (844,930 USD) of charter capital, works as a machinery rental and trading company in southern Ba Ria-Vung Tau Province.

Also in December, SCIC offered shares from four more companies.

674,636 shares or 7.1 percent of stake in HCM City-based Vietnam Glass and Pottery JSC at the starting price of 9,000 VND (39 cents) each were made available.

Also on offer were 34,060 shares, or 54.09 percent of stake in Vinh Long Construction JSC at the starting price 84,200 VND (3.7 USD).

The third offering was 461,716 shares, accounting for 15.32 percent of stake in Ba Ria-Vung Tau Trading JSC at the starting price of 15,100 VND (66 cents).

Finally 450,490 shares or 55.63 percent of the stake in Do Son Tourism in northern Hai Phong City at the starting price of 336,600 VND (14.9 USD) were put on the market.

SCIC was formed in 2006 to invest in State-owned enterprises (SOEs) with a total book value of nearly 8.52 trillion VND (380.4 million USD).

Since 2014, the SCIC has carried out a massive process of divestment of non-core businesses at several State-owned enterprises (SOEs), following the Government's decision 2344/QC-TTg, announced on December 2, 2013.

According to the SCIC's latest financial report on the last day of 2014, its total assets reached nearly 71 trillion VND (3.14 billion USD) and reported a profit after tax of 5.3 trillion VND (235.1 million USD) in 2014.-VNA

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