SCIC to sell nearly 30% stake in Binh Minh Plastics to gain about US$95 million after several delays

By Linh Lan - Feb 23, 2018 | 02:00 PM GMT+7

TheLEADERState Capital Investment Corporation (SCIC) is expected to offer 29.51% of its shares in Binh Minh Plastics Joint Stock Company (BMP) for sale on March 9th.

SCIC to sell nearly 30% stake in Binh Minh Plastics to gain about US$95 million after several delays
Photo: binhminhplastic.com.vn

The sale of more than 24 million shares (equivalent to 29.51% of the charter capital of BMP) will be held on the Ho Chi Minh City Stock Exchange (HOSE) after many delays.

Although the initial offering price will be announced on February 28th, given the market price, the divestment is expected to gain VND2.16 trillion (about US$95.2 million).

Established in 1977, Binh Minh Plastics, with the chartered capital of over VND800 billion (about US$35.3 million), has enhanced its leading position in the field of manufacturing and trading plastic pipe and products nationwide.

Currently, Nawa Plastic of Thailand is BMP's largest shareholder, holding a 20.4% stake (16.7 million shares), followed by Franklin Templeton Investments, a US global investment company, which owns 10.78%.

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