HNX will hold two auctions of the stakes on November 22, at which Viettel will sell a batch of over 94 million Vinaconex shares, equivalent to a capital contribution of more than VND940 billion (US$40.87 million) or 21.28% of Vinaconex’s charter capital. The starting price for the batch is over VND2 trillion (US$86.96 million), or VND21,300 for each share.

Meanwhile, SCIC will offer a lot of over 254.9 million shares equivalent to a capital contribution of nearly VND2.55 trillion (US$110.83 million), or 57.71% of Vinaconex’s charter capital. The starting price for the lot is nearly VND5.43 trillion (US$236.1 million), or VND21,300 apiece.

Vinaconex is the first State-owned corporation to equitise. Its shares coded VCG were officially listed on the HNX in 2008. 

The firm’s charter capital now stands at over VND4.47 trillion (US$192 million) in charter capital. Its three main shareholders are SCIC which holds a 57.71% stake, Viettel 21.28%, and PYN Elite Fund 7.54%.

Vinaconex’s core area of business is construction, but it is also active in property development, industrial production, construction materials and import-export.

In 2017, Vinaconex reported revenues of VND10.89 trillion (US$473.48 million) and after tax profit of VND1.63 trillion (US$70.87 million).