SCIC offers more shares in December

December 07, 2015 | 09:46

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The State Capital Investment Corporation (SCIC) has announced the sale of shares in more companies under a restructuring plan on its website.

State Capital Investment Corporation offers more shares under a restructuring plan this year.-Photo SCIC

24,714 shares or 38.5 per cent of Nhat Nhat Tan JSCare to be on offer, at VND13,800 (US$0.61) each in an auction on December 30. The company, with VND19 billion ($844,930) of charter capital, works as a machinery rental and trading company in southern Ba Ria-Vung Tau Province.

Also in December, SCIC offered shares from four more companies.

674,636 shares or 7.1 per cent of stake in HCM City-based Viet Nam Glass and Pottery JSC at the starting price of VND9,000($0.39)each were made available.

Also on offer were 34,060 shares, or 54.09 per cent of stake in Vinh Long Construction JSC at the starting price VN84,200($3.7).

The third offering was 461,716 shares, accounting for 15.32 per cent of stake in Ba Ria - Vung Tau Trading JSC at the starting price of VND15,100($0.66).

Finally 450,490 shares or 55.63 per cent of the stake in Do Son Tourism in northern Hai Phong Province at the starting price of VND336,600($14.9) were put on the market.

SCIC was formed in 2006 to invest in State-owned enterprises (SOEs) with a total book value of nearly VND8.52 trillion ($380.4 million).

Since 2014, the SCIC has carried out a massive process of divestment of non-core businesses at several State-owned enterprises (SOEs), following the Government's decision 2344/QC-TTg of the Prime Minister, announced on December 2, 2013.

According to the SCIC's latest financial report on the last day of 2014, its total assets reached nearly VND71 trillion ($3.14 billion) and reported a profit after tax of VND5.3 trillion ($235.1 million) in 2014.

VNS

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