Lilama to withdraw 15% capital at its affiliate

Workers at LILAMA Corporation assemble a set of machines. — VNA/VNS Photo Ngọc Hà

HÀ NỘI — The Việt Nam Construction and Machinery Installation Corp (Lilama) will withdraw  一 五 per cent of its capital at its affiliate, Lilama  四 五- 一 Joint Stock Company.

The process will begin from now until the end of the first quarter of  二0 一 八. Lilama, under the Ministry of Construction, will auction  七 二0,000 shares of Lilama  四 五- 一 at an initial offering price of VNĐ 一0, 九 八 七 ( 四 四 US cents) per share. The offering of shares will be held at Sài Gòn-Hà Nội Securities Joint Stock Company (SHS).

Lilama currently holds a total of  二. 四 million shares at Lilama  四 五- 一, equivalent to  五 一 per cent of the company’s charter capital. Therefore, after the divestment, Lilama will reduce its ownership to  三 六 per cent.

The divestment is scheduled to be implemented in accordance with Lilama’s project on restructuring and enhancing management capacity during the period of  二0 一 六- 二 五. — VNS