|The company will sell 31.5 million shares, or a 35 per cent stake, to strategic investors. — Photo giaoducvietnam
HA NOI (VNS) — The Infrastructure Development and Construction Corporation (Licogi) plans to sell nearly 21.27 million shares during its initial public offering (IPO) on April 12 at the Ha Noi Stock Exchange.
According to the northern bourse, the shares will be auctioned at an initial price of VND10,000 (US$0.48) per share, and the charter capital of the company is expected to reach VND900 billion ($42.86 million) after its privatisation.
The Government had adopted a plan to equitise Licogi last December. The 21.27 million shares sold during the IPO will represent 23.63 per cent of the firm's total equity, while the State will hold 36 million shares, or a 40 per cent stake.
The company will sell 31.5 million shares, or a 35 per cent stake, to strategic investors. It will also offer employees nearly 1.17 million shares, equivalent to 1.3 per cent, and reserve 63,000 shares, or 0.07 per cent, for the trade union.
Licogi is headquartered in Ha Noi's Thanh Xuan District and is an institution that works under the Ministry of Construction. It is involved in construction work in urban areas, industrial parks, traffic infrastructure, alongside hydroelectric and thermo-electric projects. — VNS