DATC to sell 3.7m shares of COSEVCO

Viet Nam Debt and Asset Trading Corporation (DATC) will sell 3.7 million shares of Cosevco Ceramic Tiles Joint Stock Company at an auction on January 6 next year at the Ha Noi Stock Exchange.

According to the exchange, the initial price at the auction will be VNĐ10,178 per share.

Registration to take part in the auction is from December 9 to 29, 2016.

Foreign investors are allowed to buy 3.315 million shares.

DATC currently holds 3.7 million shares, or 56.77 per cent, of Cosevco’s charter capital.

Cosevco curently has two major shareholders -- DATC (56.77 per cent) and Central Construction Corporation (27.39 per cent). Thanh Thanh Joint Stock Co also holds 4.62 per cent of Cosevco’s charter capital.

Cosevco reported a profit of more than VND6.5 billion last year. The company’s after-tax profit in the first nine months of this year was nearly VND2.46 billion.

The company is targeting a turnover of VND209.75 billion in 2017 with after-tax profit of VND4.12 billion.

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