VNCC to offer 25 per cent shares to strategic shareholders

Tuesday, Apr 12, 2016 17:36

Ha Noi Museum is one of many works received design consultancy from VNCC. The corporation will offer 8.94 million shares for strategic shareholders. — Photo

HA NOI (Biz Hub) — State-owned Viet Nam National Construction Consultants Corporation (VNCC) will offer 8.94 million shares, or 25 per cent to strategic shareholders.

To become a strategic company shareholder, an investor must have a healthy financial status, and no overdue debts or accumulated losses at the time of document submission. In addition, they must not be a strategic investor or major shareholder owning over 5 per cent of charter capital in any business operating in the field of construction consultancy in Viet Nam.

Earlier this year, the Prime Minister approved the equitisation plan to transform VNCC into a joint stock company.

After the equitisation, VNCC, under the Ministry of Construction (MoC), will have chartered capital reserves of VND357.7 billion (US$16 million) or 35,774,448 shares at a par value of VND10,000 per share.

Under the plan, the MoC representing the State's capital, will hold 51 per cent of the corporation, while 25 per cent and then another 19.03 of the charter capital will be sold to strategic shareholders and at an initial public offering (IPO). The rest will be sold to employees.

VNCC works mainly in consultancy on construction investment. In 2015, the corporation earned revenue of VND231.8 trillion and profit after tax of VND28.91 billion . — VNS

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