SCIC prepares to divest from Thang Long Corporation

NDO - Hanoi Stock Exchange (HNX) has just announced that on December 26, it will organize an auction to divest shares of Thang Long Corporation - a joint stock company owned by the State Capital Investment Corporation (SCIC), with a starting price of more than VND 222.6 billion.

Accordingly, Thang Long Corporation - JSC, stock code: TTL (address at 72 Nguyen Chi Thanh Street, Lang Thuong Ward, Dong Da District, Hanoi), formerly Thang Long Bridge Joint Stock Company, was established in 1973 with the first task of building Thang Long Bridge (1973-1985) - the largest bridge at that time.

The company operates mainly in the following fields: construction of railway and road works; investment in infrastructure works, design consultancy and technical services...

In 2015, the Company increased its charter capital to more than 419 billion VND.

Regarding production and business situation, in 2023, the Company recorded net revenue of more than VND 1,459.46 billion, after-tax profit of more than VND 29.17 billion (3.3 times higher than the same period in 2022).

By the end of the third quarter of 2024, the Company recorded net revenue of more than VND 1,364 billion, profit after tax reached more than VND 10.72 billion (equal to 57.6% over the same period in 2023).

At the auction held on December 26, Thang Long Corporation - JSC will auction a lot of shares (including 10,500,000 shares) owned by the State Capital Investment Corporation (SCIC), with a par value of VND 10,000/share, with a starting price of VND 222,611,000,000/lot of shares.

The number of shares foreigners are allowed to buy is 10,500,000 shares.

Investors participating in the auction must register and deposit from December 6, 2024 to 15:30 on December 19, 2024, at the Auction agents; submit the Auction Participation Form no later than 16:00 on December 24, 2024, and put it directly into the ballot box at the Headquarters and branches of the Auction agents where the investor completes the registration procedures; pay for the purchase of shares from December 26, 2024 to January 2, 2025; and refund the deposit from December 26, 2024 to January 2, 2025.

Source: https://nhandan.vn/scic-chuan-bi-thoai-von-khoi-tong-cong-ty-thang-long-post849696.html