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Corporation 36 to auction 4.3m shares at IPO launch

Update: April, 07/2016 - 09:00
A building of Corporation 36. The company will offer 4.3 million shares at an IPO on April 14. — Photo

HÀ NỘI (VNS) — Corporation 36 will offer 4.3 million of its shares at the company’s initial public offering (IPO) on April 14.

The shares will be auctioned on the Hà Nội Stock Exchange (HNX) at a starting price of VNĐ10,100 (US$0.44) each.

Earlier this year, Prime Minister Nguyễn Tấn Dũng approved Corporation 36’s equitisation plan, involving the sale of part of the State’s shares and issuing a greater stake to increase its charter capital.

Upon equitisation, Corporation 36, which is under the management of the Ministry of Defence, will have a charter capital of VNĐ430 billion, in which the State will hold a 40 per cent stake.

Meanwhile, strategic shareholders and employees will hold a 42.21 per cent and 7.79 per cent stake, respectively.

The corporation was established in 1996 and operates in many fields, including civil engineering, transport infrastructure and irrigation works. It has an annual production value of more than VNĐ2 trillion, and employs more than 10,000 workers.

In 2015, the company earned a revenue of about VNĐ3.8 trillion, with revenue growth of 12 per cent per year on average.

The company has implemented about 200 projects in 50 provinces nationwide and also in Laos. — VNS

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