Vinatex to auction shares in brewery company

The Viet Nam National Textile and Garment Group (Vinatex) will auction almost 1.7 million of their shares in the Sai Gon–Quang Ngai Brewery Company at a price starting from VND10,000 (US$0.48) a share, the HCM City Stock Exchange has announced.

Information about the auction and depositing is available from today, and the auction will take place at 2pm on December 28.

The Quang Ngai-based company has a charter capital of VND450 billion ($21.5 million). It incurred losses from 2010, posting a loss of VND1.09 billion ($52,000) in 2010 and VND68.2 billion ($3.3 million) in 2011. This year, it is expecting another loss of VND71 billion ($3.4 million), as the new factory has yet to generate profit this year.

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