Retail investors snap up Bach Dang Construction's shares
The auction attracted 37 investors registering to purchase 83.57 million shares of Bach Dang Construction Corporation, four times the amount of shares put on sale by the Ministry of Construction, announced the Hanoi Stock Exchange (HNX).
Three investors registered to acquire 13.73 million shares, accounting for 16.4% of the total shares on offer, while 34 individual investors opted to purchase 69.84 million shares.
Illustration photo.
|
The average winning price was VND26,282 (US$1.15) apiece, nearly doubling the initial price of VND13,300 (US$0.58).
Notably, no foreign investor won bids for shares of Bach Dang Construction. After the transaction, the Ministry of Construction unloaded the entire 94.61% stake in Bach Dang Construction Corporation, fetching VND540 billion (US$23.62 million).
Bach Dang Construction Corporation, formerly known as Construction Company No.16, was established in 1958.
In 2013, the company was privatized and renamed Bach Dang Construction Corporation, and two years later, it went public.
At present, Bach Dang Construction Corporation's charter capital stands at VND217 billion (US$9.5 million).
Its core business include civil and industrial engineering, transportation, urban infrastructure and industrial parks, mining, marine transport, real estate and tourism.
In 2017, the company's total production value reached over VND7.2 trillion (US$315 million), up 5% as compared with the year target. Its revenue and pre-tax profit were reported at VND4.8 trillion (US$210 million) and VND67.32 billion (US$2.94 million), respectively.
Bach Dang Construction Corporation set its revenue target in 2018 of VND3.56 trillion (US$155.7 million), up 60.82% year-on-year and after-tax profit of VND20 billion (US$875,000), representing an increase of 35.6% against 2017.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.