The newly-established company has an initial capital investment of VND12.3 billion (US$540,000), with G.K World Business Investment and CIENCO4 each holding 49.67 per cent of its shares.
The State Capital Investment Corp (SCIC) has earned VND342 billion (US$14.5 million) for selling a part of its ownership at the Civil Engineering Construction Corporation No 5.
The poor first-quarter response to IPOs (Initial Public Offerings)
launched by State-owned enterprises (SOEs) shows that they have not
prepared well for their equitisation process, a VnExpress report said.
Prime Minister Nguyen Tan Dung has approved the privatisation plan of
the Civil Engineering Construction Corporation No 8 (Cienco 8),
according to the Government news portal.
Companies plan to launch a number of initial public offerings (IPOs) at
the end of February and in March, and trillions of dong will likely be
needed to absorb them.