Publishing house to divest capital from Tan Mai Group
Tan Mai Group, formerly known as Viet Nam Paper Technology Company, was established in 1958 as a State-owned company.
Viet Nam Education Publishing House Limited Company will auction off 7,216,576 shares at Tan Mai Group at the Ha Noi Stock Exchange (HNX) on April 29.
The shares are equivalent to VND72.1 billion (US$3.07 million), accounting for 8.1 per cent of the group's charter capital with an initial price of VND11,500 per share.
Tan Mai Group, formerly known as Viet Nam Paper Technology Company, was established in 1958 as a State-owned company.
It has been equitised and operated as a joint-stock company since 2006.
The company has undergone seven increases of charter capital from 2006 to 2013 from VND348 billion to VND890 billion.
Shareholders holding more than 5 per cent of the company's charter capital include Viet Nam Paper Corporation (22.6 per cent), Viet Nam Education Publishing House Limited Company (8.1 per cent) and an individual (61.7 per cent).
Before 2012, the company's main product was paper. Currently, the company's main activity is investing in real estate and forestry projects.
The company has suffered losses since 2012 due to ceasing paper production. — VNS
