Vinachem to auction shares of Southchimex

The Viet Nam National Chemical Group (Vinachem) plans to auction more than 461.5 million shares of Southern Chemicals Import and Export JSC (Southchimex) with an initial bid price of VND253,300 (US$10.94) per share.

The auction is scheduled for December 12 at 9am.

The number of shares, valued at VND117 billion, is equivalent to 49 per cent of Southchimex, whose charter capital reaches VND9.4 trillion.

With this initial bid price, Southchimex is valued at up to more than VND238 billion.

Southchimex specialises in distributing fertiliser products in the southern region, southwestern region, Mekong Delta and south Central Highlands with a consumption output of nearly 200,000 tonnes per year.

The company also imports chemicals such as sodium sulphate, soda ash light and sulphur to serve buyers in many different industries such as manufacturing, washing powder, silicate production, glass, textile and detergent foaming agents.

Previously, Vinachem had also successfully auctioned more than 900.4 million shares of Da Nang Chemical Industries JSC (DCI) with a starting bid price of VND113,700 per share while DCI market price at the time of auction was only VND2,800 per share.

The successful bid price for DCI shares was VND133,733 per share.

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