Bim Son Cement to sell 14M shares, Vietnam

Bim Son Cement to sell 14M shares, Vietnam
Published: 14 September 2006

The Bim Son Cement Company plans to sell an additional 14M shares via auctions at the stock exchanges in Hanoi and Ho Chi Minh City on September 20, the company has announced. 
Bim Son will sell the shares at the initial price of VND12,500, which is VND2,500 higher than the per-share price of previous issues. 
Bim Son now has chartered capital of VND900 billion ($56.4m), with the state holding 89.58% stake, its staff 7.18% and outside investors 3.24%. 
After this auction, the state ownership in the firm is expected to fall to 75%. 

Bim Son is building a new production line with capacity of 2Mta using the most modern and automatic technology. 
When the new facility opens in 2007, Bim Son will become one of the biggest cement plants in Vietnam with total capacity of 3.2Mta of cement.