SCIC sells 5.6 percent stake at Vinaconex hinh anh 1A Vinaconex building on Lang Ha Street. (Photo: VNA)

Hanoi (VNA) - The State Capital Investment Corporation (SCIC) collected 137 billion VND (6 million USD) after auctioning 5.35 million shares of the Viet Nam Construction and Import-Export Joint Stock Corporation (Vinaconex) on the Hanoi Stock Exchange on December 8.

The amount of shares was equal to 5.6 percent stake of SCIC at Vinaconex.

After the sale, the SCIC reduced its ownership in Vinaconex from 57.79 percent to 52.2 percent, nearly 250 million shares.

The bidding price for Vinaconex shares, listed on the northern bourse as VCG, was 25,600 VND per share.

At the session, three investors registered to buy shares successfully, one of which was an organisation purchasing 5 million shares and two were individuals buying 350,000 shares.

Vinaconex has also formally established two fully Vinaconex-invested firms, Vinaconex CM and Vinaconex INVEST, under its restructuring plan.

Vinaconex CM has chartered capital of 300 billion VND and plans to gradually increase it to 1 trillion VND. The company’s revenue in 2021 is expected to reach 8 trillion VND, with profits reaching 165 billion VND.

Vinaconex INVEST focuses on real estate business and other areas where Vinaconex has much potential such as hydroelectric power, infrastructure investment and education. The charter capital of the company is expected to increase gradually from the current 300 billion VND to 2 trillion VND. In 2021, the company’s revenue and profit are forecast to reach 10 trillion VND and 500 billion VND, respectively.

In mid-November, Vinaconex said it had targeted average growth of 10-15 percent during 2017-21. In the first nine months of this year, its revenue was estimated at nearly 6.63 trillion VND, up 17.9 percent over the same period last year and exceeding its full year’s target by 61 percent.

The after-tax profit was 623 billion VND, rising by 31.3 percent year-on-year. - VNA