The auction will be held on March 30 at Hanoi Stock Exchange (HXN). Foreign investors are allowed to purchase all of these shares.
At the starting price of VND42,400 (US$1.78) per share, it is expected that Hanoi will obtain at least VND284.3 billion (US$12.5 million) if the auction is successfully conducted.
In addition to the Hanoi People's Committee, two other major shareholders of Vinawind include Saigon - Hanoi Insurance Joint Stock Corporation (BSH) with the shareholding of 20.98 per cent and Vietnam Aviation Insurance Joint Stock Company (VNI) with a 19.24 per cent stake.
Vinawind was established in early 1965. It is one of the largest electric fans manufacturers in Vietnam.
Previously, this state-owned enterprise conducted the equitization and IPO (initial public offering) successfully in March 2015.
Vinawind has a charter capital of VND143 billion (US$6.3 million), equivalent to 14.3 million shares, of which three domestic organizations hold 87.12 per cent and 834 domestic individuals hold 12.88 per cent.
In 2017, Vinawind’s revenue reached VND938 billion (US$41.3 million), up 3 per cent compared to same period of 2016. After deducting expenses, the company earned a net profit of VND67 billion (US$2.9 million) and a cumulative profit of VND74 billion (US$3.2 million).
In 2018, Vinawind has targeted the revenue of VND998 billion (US$43.9 million) and after-tax profit over VND67 billion (US$2.9 million).