IDICO announced it will transfer its entire 26 million shares in Dak Mi Hydropower joint stock company to Bitexco group. — Photo idico.com.vn

The Viet Nam Urban and Industrial Zone Development Investment Corporation (IDICO) announced it will transfer its entire 26 million shares in Dak Mi Hydropower joint stock company to Bitexco group.

The 26 million shares are equivalent to 26 per cent of the capital of Mi Hydropower Joint Stock Company.

IDICO Board of Directors approved the transfer price proposed by Bitexco Group of VND20,000 per share. With 26 million shares traded, the deal between IDICO and Bitexco Group has a total value of VND520 billion.

Regarding the payment, 100 per cent of the transfer value, equivalent to VND520 billion, will be paid by Bitexco Group within three working days from the time the contract is signed.

Previously, Bitexco Group registered to sell 67.5 million shares, accounting for 22.5 per cent of charter capital at IDICO, in order to structure the investment portfolio. Expected transaction time lasts from May 28 to June 25, 2021.

According to data on the HNX, in the trading session of June 15, the liquidity of IDICO stock (IDC) reached a record with more than 79 million shares traded, the market price hit the ceiling price at VND39,400 per share. It was worth noting that nearly 68 million shares were traded via put-through transaction with a value of more than VND2.2 trillion. — VNS