The State-owned Viglacera glass and construction pottery corporation will launch 307 million shares worth 10,000 VND (4.7 USD) each to its initial public offering (IPO), as part of its equitisation plan to become the top Vietnamese construction materials producer.

Viglacera said on January 8 that it will sell over 76.9 million shares, or 25.07 percent of its chartered capital by auction, with an asking price of 10,300 VND (4.9 USD) each.

It contributes over 23 million USD in annual exports to the construction sector with products available in 40 countries and territories worldwide.

The group also focuses on the construction of industrial parks, urban and commercial areas and housing.

Along with equitisation, it will also reshuffle its operation by divesting its capital from unpromising projects.-VNA