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The “Power Man” Of The Ministry Of Construction IPO Success, Earning More Than VND200 Billion

"Big boss" of the Ministry of Construction IPO success

On the 20th of July, Construction Corporation No. 1 – Limited Company (CC1) held the first auction to the public 14,089,100 shares, collected over VND200 billion.

You can read more information at Vietnam Real Estate News

Construction Corporation No. 1 – One Member Limited Liability Company (CC1) is a state-owned enterprise under the Ministry of Construction established in 1979, operating in the field of civil construction, energy industry, technical design, design consulting, production and business of building materials, investment in electricity business …

Currently, CC1 has two subsidiaries, five subsidiaries and 13 associates. Over 35 years of operation, CC1 has been one of the leading construction service providers in the South in particular and in the country in general.

After equitization, the chartered capital of CC1 is estimated at VND1,100 billion. The state will hold 40% of the capital. The number of shares sold to strategic investors is 49.5 million shares, equivalent to 45% of the capital. The number of shares sold for the first time was more than 14 million shares, equivalent to 12.8%. The remaining 2.4 million shares sold to employees in the enterprise, equivalent to 2.2% capital.

"Big boss" of the Ministry of Construction IPO success
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See more information at Vietnam Real Estate Investment

The auctions attracted 73 investors, including two institutional investors, 67 individual domestic investors and four foreign individual investors. Investors registered to buy a total of nearly 69 million shares, 4.8 times the number of shares CC1 offered.

Auction results: The highest bid price was 15,600 dong/share, the lowest bid price was 10,300 dongs/share, the average winning price was 14,200 dongs/share with seven winners.

The total number of shares sold is over 14 million shares (100%). A total value of shares sold over VND200 billion.

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The “Power Man” Of The Ministry Of Construction IPO Success, Earning More Than VND200 Billion
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