Viettel Construction JSC, a subsidiary of Viettel Group, received permission to list 47.1 million shares on the Unlisted Public Company Market (UpCOM), according to newswire Cafef.
|Viettel Group's construction arm has received permission to be listed
The first transaction day will be October 31, 2017, with the reference price of VND26,000 ($1.14).
In April 2010, the company put 6.15 million shares on sale at its initial public offering (IPO) with the initial price of VND10,000 ($0.44) apiece. The entire share volume on offer was sold at the average price of VND14,484 ($0.65). The company started operations under the JSC model in June 2010 with the initial chartered capital of VND238 billion ($10.4 million), 72 per cent of which was owned by Viettel Group.
After five years, the company’s chartered capital increased to VND471 billion ($20.6 million). As of September 7, 2017, Viettel held a 73.2 per cent stake in the company.
Viettel Construction JSChas constructed the telecommunication infrastructure of Viettel Group with about 50,000 base transceiver stations (BTS) and about 140,000 kilometres of optical fiber in Vietnam, and Cambodia, Laos, Myanmar, Haiti, Peru, Mozambique, Cameroon, Burundi, and Tanzania, among others.
In recent years, the company reported consecutive increases in its revenue. Notably, it earned VND1.53 trillion in revenue and VND110 billion ($4.8 million) in after-tax profit in 2015 and the figures hit VND1.68 trillion ($73.7 million) and nearly VND100 billion ($4.4 million) in after-tax profit in 2016. In the first half of this year alone, it earned VND1.27 trillion ($55.7 million) in revenue and VND48.2 billion ($2.1 million) in after-tax profit.
As of late June, the company had total assets of VND1.96 trillion ($85.9 million) and VND634 billion ($28.2 million) of equity capital.