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Corporation 36 equitisation approved by Prime Minister

Update: February, 25/2016 - 09:37
The headquarter of Corporation 36. Prime Minister Nguyen Tan Dung has approved Corporation 36's equitisation plan. — Photo
HA NOI  (VNS) — Prime Minister Nguyen Tan Dung has approved Corporation 36's equitisation plan, involving the sale of part of the state share and issuing of more stakes to increase its charter capital.

After the equitisation, Corporation 36, which is under the management of the national defence ministry, will have a charter capital of VND430 billion (US$19.2 million), in which the state will hold a 40 per cent stake.

Meanwhile, strategic shareholders and employees will hold 42.21 per cent and 7.79 per cent stakes, respectively. The rest will be sold at its initial public offering (IPO).

The prime minister asked the ministry to issue each share for VND10,000 at the IPO, and adjust the charter capital structure in case its share sale failed.

The corporation was established in 1996. It operates in many fields, such as civil engineering construction, transport infrastructure construction and irrigation works construction, with an annual production value of more than VND2 trillion, and creating jobs for more than 10,000 people.

The company has implemented about 200 projects in 50 provinces nationwide and in Laos as well.

Some of the company's projects are the Eastern Truong Son road, the hall of defence ministry and Mon Son irrigation dam in the central Nghe An Province. — VNS

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