Vinaconex to divest from five subsidiaries by year-end

December 14, 2017 - 09:00

Việt Nam Construction and Import-Export JSC (Vinaconex) has announced a series of divestures from five subsidiaries by year-end.

Vinaconex will offload a 16.6 per cent stake of Vinaconex No 12 JSC (V12)from December 15-19. — Photo indongnam.com.vn

Viet Nam News

HÀ NỘI – Việt Nam Construction and Import-Export JSC (Vinaconex) has announced a series of divestures from five of its subsidiaries by year-end.

Vinaconex will offload 25.5 million shares, or 51 per cent of charter capital of Vinaconex Water Supply JSC (VCW), more than 965,500 shares, or 16.6 per cent stake of Vinaconex No 12 JSC (V12), 2.2 million shares, or 18.83 per cent stake of Vinaconex No 9 JSC (VC9), 2.3 million shares, or 15.23 per cent stake of Vinaconex No 2 (VC2) and 2.4 million shares, or 34 per cent stake of Vinaconex Urban and Housing Development Investment JSC (Vinahud).

The company has yet to disclose the selling prices for the sales, expected to be carried out between December 15 and 29.

Except Vinahud, the other four companies are trading on the Hà Nội Stock Exchange and Unlisted Public Company Market (UPCoM) with prices ranging between VNĐ15,000 and VNĐ37,000 per share.

Vinaconex’s shares (VCG) rose 4.9 per cent on Wednesday to VNĐ23,400 (US$1.03) per share after the announcement. – VNS

Tags Vietnam Vinaconex share auction divesture

Incentive mechanisms needed for semiconductor industry: PM

Economy

Hà Nội honours 36 key industrial products

Economy

CPTPP, UKVFTA to boost UK – Việt Nam trade relations

Economy

EVN signs contract for national grid power supply project for Côn Đảo

Economy

Canada Brand campaign begins

Economy

Bình Dương takes advantage of opportunities from EVFTA, UKVFTA

More on this story

Economy

Sacomreal to boost capital by 30 per cent

Sài Gòn Thương Tín Real Estate JSC, better known as Sacomreal (SCR), plans to hike its charter capital by 30 per cent to VNĐ3.17 trillion (US$139 million) from the current VNĐ2.44 trillion through an additional issue of about 73 million shares.

Economy

Productivity key to escaping mid-income trap

Though on its way to achieving all major economic goals, Việt Nam has its work cut out in maintaining an upward productivity growth lest it falls into the middle income trap and trails behind regional partners.

Economy

Shares fall on market volatility fears

Shares on both local exchanges declined on Wednesday with investors cautious about market volatility.

Economy

ADB lifts growth prospect of VN to 6.7%

The Asian Development Bank (ADB) revised Việt Nam's growth prospect upward to 6.7 per cent in both 2017 and 2018 compared with earlier forecasts of 6.3 and 6.5 per cent, respectively.

Economy

First Việt Nam Property Awards launched

The Việt Nam Real Estate Association (VNREA) on Tuesday launched the first-ever Việt Nam Property Awards for 2017-18.

Economy

EU-MUTRAP project promotes Việt Nam’s deeper trade integration

The European Trade Policy and Investment Support Project (EU-MUTRAP) has helped Việt Nam further integrate into the global and regional trading systems while promoting Việt Nam-EU trade and investment relations.

Economy

Retail customers urged to complete transactions with ANZ before Dec 18

ANZ Vietnam has urged individual customers to consider making early cash withdrawals, payments and transfers prior to December 18 when the transfer of its retail business to Shinhan Bank Vietnam is completed.

Economy

Customs signs agreement with banks for e-tax payment

The General Department of Customs (GDC) on Tuesday signed a co-operation agreement with six commercial banks to implement a 24/7 e-tax payment scheme.