Licogi to sell 21 million shares during IPO

Source: Pano feed

The Infrastructure Development and Construction Corporation (Licogi) plans to sell nearly 21.27 million shares during its initial public offering (IPO) on April 12 at the Hanoi Stock Exchange.

According to the northern bourse, the shares will be auctioned at an initial price of 10,000 VND (0.48 USD) per share, and the charter capital of the company is expected to reach 900 billion VND (42.86 million USD) after its privatisation.

The Government had adopted a plan to equitise Licogi in December, 2014. The 21.27 million shares sold during the IPO will represent 23.63 percent of the firm’s total equity, while the State will hold 36 million shares, or a 40 percent stake.

The company will sell 31.5 million shares, or a 35 percent stake, to strategic investors. It will also offer employees nearly 1.17 million shares, equivalent to 1.3 percent, and reserve 63,000 shares, or 0.07 percent, for the trade union.

Licogi is headquartered in Hanoi’s Thanh Xuan district and is an institution that works under the Ministry of Construction. It is involved in construction work in urban areas, industrial parks, traffic infrastructure, alongside hydroelectric and thermo-electric projects.-VNA

Đăng ký: VietNam News