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VCG to divest from five subsidiaries by year-end

Dec 14th at 10:48
14-12-2017 10:48:50+07:00

VCG to divest from five subsidiaries by year-end

Viet Nam Construction and Import-Export JSC (Vinaconex) has announced a series of divestures from five of its subsidiaries by year-end.

 

Vinaconex will offload 25.5 million shares, or 51 per cent of charter capital of Vinaconex Water Supply JSC (VCW), more than 965,500 shares, or 16.6 per cent stake of Vinaconex No 12 JSC (V12), 2.2 million shares, or 18.83 per cent stake of Vinaconex No 9 JSC (VC9), 2.3 million shares, or 15.23 per cent stake of Vinaconex No 2 (VC2) and 2.4 million shares, or 34 per cent stake of Vinaconex Urban and Housing Development Investment JSC (Vinahud).

The company has yet to disclose the selling prices for the sales, expected to be carried out between December 15 and 29.

Except Vinahud, the other four companies are trading on the Ha Noi Stock Exchange and Unlisted Public Company Market (UPCoM) with prices ranging between VND15,000 and VND37,000 per share.

Vinaconex’s shares (VCG) rose 4.9 per cent on Wednesday to VND23,400 (US$1.03) per share after the announcement.

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