SOEs auction shares

The Hai Phong Post Office Construction Co, Vietnam Handicraft & Art Articles Export-Import National Co (Artexport) and Vietnam National Vegetable and Fruit Corp (Vegetexco) will soon auction shares via underwriter Bao Viet Securities Co (Hanoi).
With a chartered capital of 32 billion dong, Artexport on December 1 will allocate 12.5% of the 40,000 shares to be auctioned to external investors, the state will retain 30%, and 57.5% sold to employees. Artexport reported after-tax profit of 683 million dong in 2001, 824 million dong in 2002 and 1.395 billion dong in 2003. The company is developing a property called Artexport Building on Ngo Quyen St Hanoi which is expected to be completed by 2007 for office lease.
Artexport will also consider the reconstruction of its building at No 23, Lang Ha, the workshop in Thanh Tri, Hanoi and others. Starting price of a share is set at 108,000 dong for the 100,000 dong par shares.
Vegetexco that is located at No 389, Truong Dinh street, Hanoi will sell 14,913 shares on December 3, with a starting price of 102,000 dong a share. The company’s chartered capital will be 14 billion dong of which the state will retain 30%, 59.35% sold to company employees and the balance publicly sold..
Hai Phong Post Office Construction Co located at No 69, To Hieu, Hai Phong will sell 12.34% of its total chartered capital worth seven billion dong and equal to 8,636 shares on December 2. Starting price is defined at 103,000 dong a share with maximum registration level for the quantity of shares for each investor up to 1,000 shares. The state will retain 40% of the chartered capital of the company.

 

Category: Business