Business

Viglacera construction materials firm to go public

The State-owned Viglacera glass and construction pottery corporation will launch 307 million shares worth 10,000 VND (4.7 USD) each to its initial public offering (IPO), as part of its equitisation plan to become the top Vietnamese construction materials producer.
The State-owned Viglacera glass and construction pottery corporationwill launch 307 million shares worth 10,000 VND (4.7 USD) each to itsinitial public offering (IPO), as part of its equitisation plan tobecome the top Vietnamese construction materials producer.

Viglacera said on January 8 that it will sell over 76.9 millionshares, or 25.07 percent of its chartered capital by auction, with anasking price of 10,300 VND (4.9 USD) each.

Itcontributes over 23 million USD in annual exports to the constructionsector with products available in 40 countries and territoriesworldwide.

The group also focuses on the construction of industrial parks, urban and commercial areas and housing.

Along with equitisation, it will also reshuffle its operation by divesting its capital from unpromising projects.-VNA
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