VNPT to auction shares in five companies

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The Vietnam Posts and Telecommunications Group (VNPT) has announced the auction of shares in five of its companies, with earnings estimated at more than VND1 trillion ($44.05 million).

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It will auction 15,000 shares in the Can Tho Telecommunication Construction Investment JSC with a starting price of more than VND1.2 million ($52) per share (par value of VND100,000 ($4.4) per share), for a total of VND18.1 billion ($797,356). The auction will be held at 9.15 am on January 22 at the Hanoi Stock Exchange (HNX).

The company currently has charter capital of VND5 billion ($220,264) and builds and installs post and telecommunication works. The volume of shares for sale represents 30 per cent of charter capital.

VNPT then will auction 12,000 shares in the Hanoi Post and Telecommunication Development Investment Consultant JSC, with a starting price of VND188,103 ($8.3) per share (par value of VND100,000 ($4.4) per share). The shares are expected to bring in VND2.3 billion ($101,321). The auction will take place at 2.15pm on January 22 at HNX.

The company has charter capital of VND3 billion ($132,158) and is primarily involved in surveying and formulating investment projects on the construction of post and telecommunication works. The number of shares on offer accounts for 40 per cent of charter capital.

At 10.15am on January 22, VNPT will also auction 150,000 shares in the Central Vietnam Post and Telecommunications Construction JSC at a price starting from VND22,313 ($0.98) per share. The minimum amount investors must outlay is more than VND3.3 billion ($145,374).

The company has charter capital of nearly VND10 billion ($440,528) and the number of shares held by VNPT accounts for 15 per cent. It is primarily involved in the construction of civil engineering projects.

VNPT will also auction 71.6 million shares in Maritime Bank. The starting price is VND11,900 ($0.5) per share, totaling VND851.8 billion ($37.5 million). The auction will be held at 9.15am on January 18.

Maritime Bank has charter capital of VND11.7 trillion ($515.4 million), with the shares up for auction accounting for about 6.1 per cent.

Finally, VNPT will auction 79.02 per cent of charter capital in the Vietnam Post and Telecommunications Land JSC, or 14 million shares, divided into three batches, on January 19. The starting price in the first two batches totals VND48.5 billion ($2.1 million), in 5 million shares. The remaining shares are VND38.8 billion ($1.7 million), or 4 million shares.

The company has charter capital of VND177.2 billion ($7.8 million) and its main business lines are real estate, housing, hotels, offices, trade center, supermarket, urban center, and industrial parks construction, service management, and consultancy and design.

The group’s consolidated profits in 2017 was over VND5 trillion ($220 million), an increase of 21 per cent compared to 2016. It was the fourth consecutive year that profit has grown over 20 per cent. Total turnover was VND144 trillion ($6.3 billion), up 7 per cent compared with 2016, while State budget contributions of VND4 trillion ($176.2 million), up 9.3 per cent against 2016.

Source: VietNamNet

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