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Vicem falls short of corporate valuation

06 September 2019, Published under Cement News

The pre-equitisation valuation of the Vietnam Cement Industry Corporation (Vicem) carried out by an independent auditor fell short by nearly VND1.17trn (US$50.3m), according to the State Audit of Vietnam. The state audit agency informed the Ministry of Construction that the valuation of Vicem in October 2018 was VND28.22trn, including the state capital of VND27.8trn. However, the corporate evaluation carried out by the independent auditor valued Vicem at VND27.05trn and the state capital at...