Vietnam's state-run SCIC raises $315.7 mln via Vinaconex stake sale

By Reuters November 22, 2018 | 06:10 pm PT

State Capital Investment Corp sells a 57.71 stake in construction firm Vinaconex on November 23, 2018. Photo acquired by VnExpress

Vietnam’s State Capital Investment Corp (SCIC) raised VND7.37 trillion ($315.7 million) selling a 57.71 stake in Vinaconex on Thursday.

The state-run SCIC sold all of the 254.9 million shares of construction firm Vinaconex, formally known as Vietnam Construction and Import Export JSC on Thursday, offered at an auction at the Hanoi Stock Exchange, the exchange said in a filing.

The shares were sold to two domestic corporate investors and one domestic personal investor at an average price of VND28,900 ($1.24) apiece, it added.

Vinaconex shares closed flat at VND18,500 ($0.79) on Thursday.

Separately, military-run telecom company Viettel Group raised $85.67 million auctioning 94 million shares of Vinaconex also on Thursday, the bourse said.