SCIC to auction nearly 53 per cent of An Giang Port's capital (CAG)
SCIC to auction nearly 53 per cent of An Giang Port's capital (CAG)
The State Capital Investment Corporation (SCIC) will put up more than 7.3 million shares of An Giang Port Joint Stock Company (CAG) for public auction on the Ho Chi Minh Stock Exchange on October 30.The initial price of each share will be VND99,000 (US$4.2).
Interested investors must register to buy all shares. Foreign investors are not allowed to participate in the auction.
The shares are equivalent to nearly 53 per cent of CAG. SCIC is expected to collect VND723 billion through the sale.
An Giang Port, formerly known as An Giang My Thoi Port, was established in 1985.
The company was equitised in 2011 with charter capital of VND138 billion, and the People's Committee of An Giang Province owned nearly 53 per cent of the capital.
In 2015, the State capital at An Giang Port was transferred to SCIC. The company listed shares on the Ha Noi Stock Exchange in December 2017.
CAG shares closed Friday at VND85,900 per share.
An Giang Port specialises in loading and unloading, warehousing and storage of goods, online support services for waterways, road transport, and retail sales of engine fuels.
The company has two ports – My Thoi Port and Binh Long Port, both in the southern province of An Giang.
In the first half of 2019, the company's net revenue reached VND36.6 billion, equivalent to the same period last year. Post-tax profit touched VND3.7 billion, up by 54 per cent year-on-year.
The company plans to expand My Thoi and Binh Long ports, while developing a container shipping logistics system to become a major hub for the Mekong Delta region.
