The board of directors of the Viet Nam Construction and Import-Export JSC (Vinaconex) on Thursday appointed Nguyen Xuan Dong as the company’s general director.

Dong replaces Do Trong Quynh, Vinaconex’s former general director.

Dong, who is chairman and general director of An Quy Hung Company Limited, successfully purchased 58 per cent or nearly 255 million shares of Vinaconex for VND7.36 trillion (US$327.4 million) in an auction held on November 22.

The successful bid price was VND28,900 ($1.28) per share, 35.7 per cent higher than the starting bid price of VND21,300 per share.

Born in 1966, Nguyen Xuan Dong is not only the general of An Quy Hung but also holds important positions in other listed companies in the stock market.

Vinaconex will also hold an extraordinary shareholders meeting on January 11 next year at the company’s headquarters at 34 Lang Ha Street, Ha Noi.

An Quy Hung was established in 2001 with charter capital of VND360 billion. The company operates in the construction of industrial plants in the northern Viet Nam, real estate and other fields. As of the end of 2017, An Quy Hung’ total assets were VND1 trillion, less than 15 per cent of the value of Vinaconex’s stake offered in the recent auction. — VNS