State-run mining firm to divest from Nghe An-based company hinh anh 1Vimico will sell its stake at the Nghe Tinh Non-ferrous Metal JSC this March (Photo: VNA)

Hanoi (VNA) – The Vinacomin – Minerals Holding Corporation (Vimico) is going to auction 2,367,040 shares worth over 23.6 billion VND (about 1 million USD) it holds at the Nghe Tinh Non-ferrous Metal JSC on March 10.

The Hanoi Stock Exchange (HNX) said the shares will be auctioned at HNX at the starting price of 26,000 VND each. They are equivalent to 60.93 percent of the Nghe Tinh company’s charter capital.

The Nghe Tinh company, based in the central province of Nghe An, was founded in 1980. It is involved in counselling and mineral exploration, mining, processing and trading; and also constructs civil, industrial, transport and irrigation structures; produces and trades in building materials; and engages in some other activities like transportation, storage, and gas station operation.

Coded KLM, this company was listed on UPCoM on December 30, 2019. Its stock’s reference price was 12,000 VND per share on February 24./.