Licogi to sell 35% stake to Khu Dong

Thursday, Mar 19, 2015 16:36

Licogi has developed big construction projects in Viet Nam.— Photo

HA NOI (Biz Hub) — Infrastructure Development and Construction Corporation (Licogi) announced its strategic investor will be Khu Dong Real Estate Investment Limited Company, which will buy a 35 per cent stake in the firm.

Licogi also said it would sell 31.5 million shares to the investor before the initial public offering (IPO) on April 13 in Ha Noi.

As planned, the corporation will offer nearly 21.27 million shares, or 23.63 per cent, in an IPO on the northern bourse at VND10,000 (US$0.48) per share.

Licogi did not declare the price of shares sold to Khu Dong Real Estate Investment Company, but said it would not be lower than the starting price.

After the sale, plus a 40 per cent stake owned by the State, Licogi would have charter capital of VND900 billion ($42.86 million).

Licogi is headquartered in Ha Noi's Thanh Xuan District and belongs to the construction ministry. It is involved in construction work in urban areas, industrial parks and traffic infrastructure, as well as hydroelectric and thermo-electric projects.

Licogi has also developed several large real estate projects in urban areas in Hoang Mai and Cau Giay Districts of Ha Noi, Ha Long and Uong Bi in the northern province of Quang Ninh and others in Phu Tho and Dong Nai provinces.

Khu Dong Real Estate Investment Company was founded in HCM City in 2009 with a charter capital of VND800 billion ($37.5 million). The company owns the Villa Park in Bung Ong Thoan Road, District 9, in HCM City. — VNS

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