Ha Tien plans to issue 22 million shares

Ha Tien plans to issue 22 million shares
Published: 27 November 2006

Ha Tien 1 Cement Co., plans to issue nearly 22.3M shares at VND 11,500 (US$0.71) a piece on the Hanoi bourse on November 27.  
 
The shares, with a face value of VND 10,000 (US$0.63), represent a 25.62 per cent stake in the company. Executives expect to generate VND 870bn (US$54.3m) during the initial public offering.  
 
The Government will maintain a 65 per cent stake in Ha Tien 1 Cement Co. after it equitises, while staff will retain another 2.38 per cent and strategic shareholders will own seven per cent.  
 
As of July, Ha Tien 1 Cement Co., a subsidiary of Vietnam National Cement Corporation (VNCC), was valued at VND 1.3 (USD84.8m).