The Vinacomin - Minerals Holding Corporation (VIMICO) will hold itsinitial public offering on April 23 on the Hanoi Stock Exchange (HNX).
The firm will offer nearly 46.7 million shares, equal to 23.34 percent of the firm, at a price of 10,500 VND.
Once the IPO completed, the state will hold a 75 percent of stake in the firm, and the employees will hold a 1.66 percent share.
ByApril 1, 2014, the Government had invested more than 2 trillion VND(92.6 million USD) in VIMICO. The firm's charter capital after the IPOis expected to reach exactly 2 trillion VND (92.6 million USD).
From2011-14, VIMICO recorded revenues from 2.4 trillion-3.2 trillion VND(111 million-148 million USD), but its after-tax profits decreased from227 billion VND (10.5 million USD) to 101 billion VND (4.67 millionUSD). Its return-on-equity (ROE) also fell from 15.2 percent to 6.9percent.
From 2015-17, the firm expects to make arevenue of 4.32 trillion-5.84 trillion VND (200 million-270 millionUSD), and increase its after-tax profits from 55.3 billion VND to 106.7billion VND (2.56 million-4.94 million USD). It also expects its ROE torise from 3 percent to 6 percent. The firm also plans to pay dividendsbetween 2 and 4 percent.
After the IPO, VIMICO will implementimportant projects in Lao Cai, including a 2.56 trillion VND (118.5million USD) plan to expand and improve the capacity of the Sin Quyencopper mine in Bat Xat district, 3.95 trillion VND (182.8 million USD)to improve the capacity of its Lao Cai copper factory, and 594 billionVND (27.5 million USD) to build the Vi Kem copper mine in Bat Xatdistrict.
VIMICO is a state-owned corporation thatoperates in mining and processing noble and precious metals such asgold, copper and silver using modern technologies to produce endproducts such as golden and copper sheets.
VIMICO has 14subsidiaries which operate in mining and processing metals, runninghotels and transportation companies, selling materials and equipment formining business, and managing real-estate projects.
VIMICO alsohas four associate companies that buy and sell gold, silver andgemstones, produce and sell construction materials, and mine and processminerals.-VNA
The firm will offer nearly 46.7 million shares, equal to 23.34 percent of the firm, at a price of 10,500 VND.
Once the IPO completed, the state will hold a 75 percent of stake in the firm, and the employees will hold a 1.66 percent share.
ByApril 1, 2014, the Government had invested more than 2 trillion VND(92.6 million USD) in VIMICO. The firm's charter capital after the IPOis expected to reach exactly 2 trillion VND (92.6 million USD).
From2011-14, VIMICO recorded revenues from 2.4 trillion-3.2 trillion VND(111 million-148 million USD), but its after-tax profits decreased from227 billion VND (10.5 million USD) to 101 billion VND (4.67 millionUSD). Its return-on-equity (ROE) also fell from 15.2 percent to 6.9percent.
From 2015-17, the firm expects to make arevenue of 4.32 trillion-5.84 trillion VND (200 million-270 millionUSD), and increase its after-tax profits from 55.3 billion VND to 106.7billion VND (2.56 million-4.94 million USD). It also expects its ROE torise from 3 percent to 6 percent. The firm also plans to pay dividendsbetween 2 and 4 percent.
After the IPO, VIMICO will implementimportant projects in Lao Cai, including a 2.56 trillion VND (118.5million USD) plan to expand and improve the capacity of the Sin Quyencopper mine in Bat Xat district, 3.95 trillion VND (182.8 million USD)to improve the capacity of its Lao Cai copper factory, and 594 billionVND (27.5 million USD) to build the Vi Kem copper mine in Bat Xatdistrict.
VIMICO is a state-owned corporation thatoperates in mining and processing noble and precious metals such asgold, copper and silver using modern technologies to produce endproducts such as golden and copper sheets.
VIMICO has 14subsidiaries which operate in mining and processing metals, runninghotels and transportation companies, selling materials and equipment formining business, and managing real-estate projects.
VIMICO alsohas four associate companies that buy and sell gold, silver andgemstones, produce and sell construction materials, and mine and processminerals.-VNA
