Vinacomin's subsidiary to divest from Nghe An-based non-ferrous company

February 25, 2020 - 15:23

The Vinacomin – Minerals Holding Corporation (Vimico) is planning to sell nearly 2.4 million shares, worth over VNĐ23.6 billion (about US$1 million), in the Nghệ Tĩnh Non-ferrous Metal JSC.

Mining activities of Nghệ Tĩnh Non-ferrous Metal JSC. Vimico will auction nearly 70 per cent stake in this company in March. — Photo baochinhphu.vn

HÀ NỘI — The Vinacomin – Minerals Holding Corporation (Vimico) is planning to sell nearly 2.4 million shares, worth over VNĐ23.6 billion (about US$1 million), in the Nghệ Tĩnh Non-ferrous Metal JSC.

The auction, slated for March 10, will take place on the Hà Nội Stock Exchange at the starting price of VNĐ26,000 ($1.12) each. They are equivalent to 60.93 per cent of the Nghệ Tĩnh company’s charter capital.
The Nghệ Tinh company, based in the central province of Nghệ An, was founded in 1980. It is involved in mineral exploration, mining, processing and trading; and also constructs civil, industrial, transport and irrigation structures; produces and trades in building materials; and engages in some other activities like transportation, storage, and gas station operation.
Coded KLM, the company was listed on the Unlisted Public Company Market (UPCoM) on December 30, 2019. The shares are trading around VNĐ12,000 per share. — VNS

Tags divestment market share Vinacomin

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