SCIC plans record share auction for Domesco
SCIC plans record share auction for Domesco
Scheduled for March 3, this auction is expected to be a significant event in the market, potentially attracting both domestic and foreign investors.
The headquarters of Domesco in Đồng Tháp Province. — Photo domesco.com |
The State Capital Investment Corporation (SCIC) is gearing up for a substantial auction of Domesco Medical Import Export JSC shares, set to be the largest auction in two years, according to the Hồ Chí Minh Stock Exchange (HoSE).
Over 12 million shares, equivalent to nearly 35 per cent of the stake in Domesco, will be put up for auction by SCIC.
The starting price for this share lot is more than VNĐ1.53 trillion (US$61 million), equivalent to VNĐ127,046 per share, surpassing Domesco’s historical peaks reached in July 2017.
Scheduled for March 3, this auction is expected to be a significant event in the market, potentially attracting both domestic and foreign investors.
Domesco, with a charter capital of over VNĐ347 billion and a market capitalisation of VNĐ2.5 trillion, has Abbott Laboratories as a majority shareholder, holding more than 51 per cent of the company's shares.
Abbott Laboratories, a prominent global healthcare corporation, may be a key player in this auction. But the high starting price might pose a challenge for potential bidders, including Abbott.
The company has a history of significant investments in Domesco, with estimations suggesting substantial returns on their initial investment.
Established in 1989, Domesco specialises in pharmaceuticals, medicinal products and healthcare supplies, with Abbott Laboratories known for its presence in Việt Nam’s consumer market through popular brands like Ensure and PediaSure BA.
