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Ministry of Construction offers more than 80 million Viglacera shares

Thursday - 21/06/2018 19:57
The Ministry of Construction has just announced the registration of the sale of nearly 80.58 million VGC shares of Viglacera Corporation - Joint Stock Company by order matching method to divest the State. The transaction is expected to take place from June 27th to July 21st.
Previously, the Ministry of Construction announced to withdraw its capital at Viglacera with a minimum price of 26,000 dong per share.
 
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Apartments Viglacera - Source: Collector on the internet


Currently, the Ministry of Construction holds 241,985,262 Viglacera shares, equivalent to 53.97% of the Corporation's chartered capital. If the company successfully divested more than 80 million shares, the Ministry of Construction reduced its stake in Viglacera to 36% of its chartered capital, equivalent to 161,406,000 shares. According to the roadmap, it is expected that by 2019 the Ministry of Construction will withdraw all the capital at Viglacera.

Previously, the Ministry of Construction announced that it would like to divest State capital at Viglacera at a minimum price of VND 26,100 per share and not lower than the average reference price of 30 trading days before the date of disclosure.

However, despite the rising session yesterday (20/6), VGC shares are trading at only 22,800 dong / share - much lower than the expected price of the Ministry of Construction.

At a conference to introduce investment opportunities in Viglacera held on 25/5 last representative of the Ministry of Construction said that looking at the minimum price of capital withdrawals than the market price does not seem reasonable, but precedent When the State decreases the holding ratio, the business performance is good, the stock price increases. So this expectation when the Ministry of Construction reduced the ownership to 36%, the efficiency of the business will be better ...
(Source: hsx.vn)

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