Tuesday, November 12 2019

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SCIC to auction nearly 53 per cent of An Giang Port's capital

Update: October, 14/2019 - 08:50

 

An Giang Port, formerly known as An Giang Mỹ Thới Port, was established in 1985. — Photo baomoi.com


HÀ NỘI — The State Capital Investment Corporation (SCIC) will put up more than 7.3 million shares of An Giang Port Joint Stock Company (CAG) for public auction on the Hồ Chí Minh Stock Exchange on October 30.

The initial price of each share will be VNĐ99,000 (US$4.2).

Interested investors must register to buy all shares. Foreign investors are not allowed to participate in the auction.

The shares are equivalent to nearly 53 per cent of CAG. SCIC is expected to collect VNĐ723 billion through the sale.

An Giang Port, formerly known as An Giang Mỹ Thới Port, was established in 1985.

The company was equitised in 2011 with charter capital of VNĐ138 billion, and the People's Committee of An Giang Province owned nearly 53 per cent of the capital.

In 2015, the State capital at An Giang Port was transferred to SCIC. The company listed shares on the Hà Nội Stock Exchange in December 2017.

CAG shares closed Friday at VNĐ85,900 per share.

An Giang Port specialises in loading and unloading, warehousing and storage of goods, online support services for waterways, road transport, and retail sales of engine fuels.

The company has two ports – Mỹ Thới Port and Bình Long Port, both in the southern province of An Giang.

In the first half of 2019, the company's net revenue reached VNĐ36.6 billion, equivalent to the same period last year. Post-tax profit touched VNĐ3.7 billion, up by 54 per cent year-on-year.

The company plans to expand Mỹ Thới and Bình Long ports, while developing a container shipping logistics system to become a major hub for the Mekong Delta region. — VNS

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