State Capital Investment Corporation (SCIC) plans to sell its entire 98.84 per cent stake in its affiliate Thai Nguyen Industrial Zone Infrastructure Development Joint Stock Company (HTTN).

Interested investors must register to buy the whole lot, equivalent to more than 13.9 million shares.

The whole lot is valued at more than VND316.2 billion (US$13.5 million).

The auction will be held at the Ha Noi Stock Exchange (HNX) on August 5.

HTTN was established in 2003. The unit performs the functions and tasks of the investor and project manager for infrastructure construction projects inside Song Cong I Industrial Park assigned by Thai Nguyen Province's People's Committee.

HTTN's main business and production activities are sub-leasing land, leasing and using infrastructure in Song Cong I Industrial Park, providing services for enterprises in industrial zones such as environmental sanitation, drainage of rainwater, wastewater treatment, and collection of domestic waste.

The company has invested in a modern centralised wastewater treatment plant with a capacity of 2,000cu.m per day to ensure a safe production environment and avoid environmental problems in the industrial park.

HTTN's 2021 sales and services revenue increased by 20.1 per cent from VND22.9 billion (US$995,600) to VND27.5 billion over the same period last year, in which revenue from subleasing land and leasing out infrastructure accounted for the highest proportion of 68.88 per cent, revenue from wastewater treatment and garbage collection was 19.14 per cent.

Gross profit from sales and service provision in 2020 and 2021 also increased sharply, reaching VND9.4 billion and VND11.19 billion, respectively.

In 2022, the company sets the target of net revenue of VND31.77 trillion and profit after tax of VND4.4 trillion, up 14.15 per cent and 34.98 per cent, respectively, compared to 2021. — VNS