The Infrastructure Development and Construction Corporation (Licogi) plans to sell nearly 21.27 million shares during its initial public offering (IPO) on April 12 at the Hanoi Stock Exchange.
The Infrastructure Development and Construction Corporation (Licogi)plans to sell nearly 21.27 million shares during its initial publicoffering (IPO) on April 12 at the Hanoi Stock Exchange.
Accordingto the northern bourse, the shares will be auctioned at an initialprice of 10,000 VND (0.48 USD) per share, and the charter capital of thecompany is expected to reach 900 billion VND (42.86 million USD) afterits privatisation.
The Government had adopted a plan to equitiseLicogi in December, 2014. The 21.27 million shares sold during the IPOwill represent 23.63 percent of the firm's total equity, while the Statewill hold 36 million shares, or a 40 percent stake.
The companywill sell 31.5 million shares, or a 35 percent stake, to strategicinvestors. It will also offer employees nearly 1.17 million shares,equivalent to 1.3 percent, and reserve 63,000 shares, or 0.07 percent,for the trade union.
Licogi is headquartered in Hanoi's ThanhXuan district and is an institution that works under the Ministry ofConstruction. It is involved in construction work in urban areas,industrial parks, traffic infrastructure, alongside hydroelectric andthermo-electric projects.-VNA
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