The Hanoi Construction Corporation (Hancorp) on February 25 announced a plan to sell shares to the public via an auction for the first time, in a bid to fulfil its equitisation process.
Hancorp, one of the country’s leading firms in construction, is scheduled to sell more than 49.74 million shares, equivalent to 26.18 percent of its projected charter capital, at a starting price of 10,200 VND (approximately 0.48 USD) each.

The move aims to adjust the firm’s executive management structure and administration methods while increasing its access to the capital market, in order to raise its financial and operational capacity.

Hancorp has recorded achievements in property trading and investment focusing on residential areas, housing development and shopping malls, with each project worth between 50 billion VND (2.35 million USD) and 1.5 trillion VND (70.5 million USD).

The business specialises in constructing industrial works, with more than 70 projects in the spheres of traffic, heavy industry, electricity and irrigation.-VNA