Vinasugar II to auction 93% stake next month

Friday, Jan 12, 2018 16:42

Vinasugar II will auction 93 per cent stake on February 13. — Photo

Viet Nam Sugarcane and Sugar Corporation II (Vinasugar II) will auction 63.59 million shares to the public on February 13, according to the HCM Stock Exchange (HoSE).

The stake of Vinasugar II is held by the Ministry of Agriculture and Rural Development (MARD).

Currently, the company has a chartered capital of VND685 billion (US$30.14 million). The number of shares to be auctioned is over 63.69 million, accounting for 93 per cent of the corporation’s chartered capital.

With a starting price of VND10,420 per share, it is estimated that MARD will collect about VND664 billion through the auction.

Information about the auction, filing and deposit is scheduled to be made public on January 15.

Vinasugar II specialises in manufacturing sugar, starch and packaging; technical services for sugarcane; consulting services and financial investment; commercial and real estate business with its member units, such as La Nga Sugar Joint Stock Company and Binh Duong Sugar Joint Stock Company, in association with Vinasugar I, Hiep Hoa Sugar Cane and Sugar Joint Stock Company.

In 2016, Vinasugar II posted VND448.7 billion in revenues, VND29.9 billion in after-tax profits, and produced 1.55 million liters of refined alcohol, as well as 183 tonnes of CO2. The company traded 22,871 tonnes of sugar.

The company targeted to reach VND462 billion in revenues and nearly VND16.5 billion in after-tax profits in 2017. — VNS

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