The Infrastructure Development and Construction Corporation will issue about 90 million shares in its initial public offering. — Photo licogi.com.vn

HA NOI (Biz Hub) — The Prime Minister approved the equitisation plan of the Infrastructure Development and Construction Corporation (Licogi) last week.

In accordance with the plan, 90 million shares will be offered at an initial price of VND10,000 (US$0.4) each.

The state holds 40 per cent of the corporation's charter capital, which is equivalent to 36 million stakes.

Meanwhile, 31.5 million stakes will be sold to strategic investors, and 21.269 million shares will be auctioned.

The corporation will offer a 1.3 per cent stake, which is equivalent to 1.168 million shares, to employees, and 63,000 shares, or 0.07 per cent, to its union trade members at a preferential price.

The equitisation process will retain 442 of the 510 officials, staff and workers in the corporation.

Licogi has charter capital of VND900 billion ($42.8 million) and manages 33 member companies. The corporation handles construction works and infrastructure projects, including the Pha Lai Thermal Power plant, Hoa Binh hydroelectric power stations and the passenger terminal at Noi Bai International Airport. — VNS