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30-05-2017, 05:15 AM #1ngocnga76k Guest
The Viglacera Corporation JSC (Viglacera) held an auction on Monday at the Ha Noi Stock Exchange (HNX), selling 120 million shares at a starting price of VND12,300 (US$0.54) per share. It was one of HNX’s most anticipated offerings since 2012, and a total of 1,026 investors attended the auction. Out of all Viglacera’s shares, stock coded VGC, 314.3 million were in demand, 2.62 times higher than the amount offered.
The largest registered bid was 15 million at VND17,300 ($0.77) per share, VND5,000 ($0.22) higher than the initial price.
At the end of the session, a total value of VND1.94 trillion ($86.6 million) was paid for 100 per cent of VGC offered shares by 50 investors, 37 of which were organisations and 13 were individuals. The average price was VND16,175 ($0.72) per share, 31.5 per cent higher than the starting price.
Most notably, foreign investors showed a special interest in Viglacera’s shares, as 109.98 million or 91.65 per cent of total offered shares were swept up by investors from outside of Viet Nam.
The VGC stock ended trading on Monday down 1.1 per cent, settling at VND17,600 ($0.79) per share.
On April 25, 2017, Viglacera held its 2017 Annual General Meeting of Shareholders to announce its plan to issue public securities to reduce State ownership to 56.67 per cent, according to the approved roadmap to reduce State equity by less than 51 per cent.
Viglacera’s dividend payout ratio in 2016 is 9.5 per cent, up by 36 per cent from last year.
Viglacera was established in 1974 under the decision of the Ministry of Construction. In 2014, the company became equitised and changed its mode of operation with a charter capital of VND2.64 trillion ($117.9 million).
As of April 2017, VGC reported a higher level of charter capital, at VND3.07 trillion ($137.15 million). Total liabilities and owner’s equity for Viglacera and its subsidiaries are reportedly VND13.155 trillion ($587.69 million).
The company specialises in construction and construction material and real estate trading. Out of total income, sale of construction material accounts for more than 50 per cent and real estate 46 per cent. The company will invest strongly in high technology, eco friendly projects and increase investment in potential projects in Cuba.
Viglacera aims to become a multinational company, operating mainly in standardised construction material manufacturing and real estate investment, with priorities to industrial zones and residential areas.View more random threads:
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