The Việt Nam Posts and Telecommunications Group (VNPT) will auction a total of

514,000 shares it currently holds in three companies. — Photo the courtesy of VNPT

HÀ NỘI — The Việt Nam Posts and Telecommunications Group (VNPT) will auction a total of 514,000 shares it currently holds in three companies.

The firms are Baclieu Telecommunication Construction & Investment JSC, Dongthap Telecommunication Investment And Construction JSC and Camau Post-telecoms Assemblage And Services JSC.

VNPT plans to sell all 168,000 of its shares in Baclieu Telecommunication Construction & Investment JSC, equivalent to 48 per cent of the company’s charter capital, with an initial price of VNĐ17,493 per share. VNPT expects to collect VNĐ2.9 billion (US$125,100) from the sale.

Baclieu JSC was established in 2004 and operates in the fields of electrical system installation, construction of power grid projects and construction of other works.

It recorded net revenue of nearly VNĐ4.4 billion last year and a post-tax profit of more than VNĐ141 million, respectively up 53 per cent and down 11 per cent compared to 2018.

For the divestment from Dongthap Telecommunication Investment and Construction JSC, VNPT will auction 320,000 shares, equivalent to 32 per cent of Dongthap’s charter capital.

With a starting price of VNĐ87,372 per share, VNPT expects to earn nearly VNĐ28 billion from the sale.

The company was established in late 2004. It operates in the fields of construction of railways and roads, consulting for telecommunication construction projects, industrial works, civil transportation and other constructions.

Dongthap achieved a net revenue of nearly VNĐ65 billion and after-tax profit of VNĐ1.4 billion last year, up 36 per cent and 96 per cent compared to the previous year.

At Camau Post-telecoms Assemblage And Services JSC, VNPT will auction 26,000 shares, equivalent to 43.33 per cent of the company’s charter capital with an initial price of VNĐ506,056 per share. VNPT expects to earn VNĐ13 billion from the sale.

Camau JSC was established in 2006. The company operates in the fields of communication equipment production, inland and waterway passenger transport. The company reported net revenue of VNĐ18.7 billion and a post-tax profit of more than VNĐ814 million last year. — VNS

Reference: https://vietnamnews.vn/economy/770662/vnpt-to-sell-stakes-in-three-companies.html