Construction Ministry to sell 18% stake in Viglacera

Saturday, 2018-06-23 18:18:34
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The Ministry of Construction has offered nearly 80.58 million shares of the largest ceramics producer Viglacera in an attempt to offload the State capital in the company. (Photo cafef.vn )
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NDO/VNA - The Ministry of Construction has offered nearly 80.58 million shares of the largest ceramics producer, Viglacera, in an attempt to offload the State capital in the company.

The transactions are expected to take place between June 27 and July 21, 2018, via order-matching trading on the stock market.

The ministry is representing the Government in holding nearly 54 percent of the capital in Viglacera, equal to nearly 242 million shares.

The shares will be traded at the price level minimum of VND 26,100 (US$ 1.16) per share and above the average price of the last 30 trading sessions prior to the information disclosure date.

If the ministry sells out the entire 80.58 million shares, it will reduce the State ownership in Viglacera to 36 percent or over 161.4 million shares. The ministry plans to sell the remaining stake in Viglacera in 2019.

Viglacera is trading 448.35 million shares on the Hanoi Stock Exchange under code VGC. The firm’s shares soared 8.1 percent to close on June 22 at VND 24,000.