Vietnam Cement Corporation (VNCC) sold over three million shares of But Son Cement Company in auctions held yesterday at the Hanoi and HCM City securities trading centres, according to the Hanoi Securities Trading Centre (HSTC). The shares, with a face value of VND10,000 and an initial price of VND11,000, sold accounted only for a small part of the 22 million shares up for sale yesterday. The total value of the shares sold was about VND220 billion (US$13.8 million), accounting for 20 per cent of the plant’s chartered capital.
The company in the northern Ha Nam Province has a total chartered capital of VND1.1 trillion (US$69m) and has produced and traded cement and clinker for 25 years. The company was planning to build a new production line with a total capacity of 2Mt of cement per year. The new line, expected to become operational in 2008, would bring the company’s total production capacity to 3.2Mta.