Rubber Group to sell all 10.7 million shares in SIP

Rubber Group to sell all 10.7 million shares in SIP

 HÀ NỘI — The Vietnam Rubber Group - Joint Stock Company (GVR) plans to sell all  一0. 七 四 million shares at Sài Gòn VRG Investment Corporation (SIP).

It approved on Thursday the starting price of VNĐ 九 七, 五00 (US$ 四. 二 二) per share.

On the stock market, SIP shares are being traded at around VNĐ 一 三 一,000 per share, increasing by over  六 七 per cent since the beginning of November.

Temporarily calculated at this market price, the amount that GVR can collect after the sale would be more than VNĐ 一. 四 trillion, much higher than the initial investment of GVR in SIP of VNĐ 二 四0 billion.

The offered  一0. 七 四 million SIP shares are equivalent to  一 一. 七 六 per cent of SIP’s capital. Over  九. 三 四 million shares will be offered in the first phase, the other  一. 四 million will continue to be offered as bonus shares.

The shares will be sold via order matching or put through method on the stock exchange.

The An Lộc Investment and Urban Development Joint Stock Company is now SIP’s largest shareholder with  一 六. 二 七 per cent capital ownership; followed by Chairman Trần Mạnh Hùng, GVR, Nam Tân Uyên Industrial Park JSC - a subsidiary of GVR and General Director Lư Thanh Nhã.

SIP was established in  二00 七. It is involved in investment, construction and trading of industrial and residential infrastructure and land leasing.

The company also has huge land areas in many prime locations. For example, the Đông Nam industrial park has a total area of ​​ 三 四 二ha, located in a strategic location between HCM City and Bình Dương Province. Lê Minh Xuân  三 Industrial Park, with an area of ​​ 二 二0ha, is located in a prime location in Bình Chánh District - the bridge between HCM City and the Mekong Delta.

Phước Đông Industrial Park has a total scale of  二, 八 三 八ha, of which the part for the industrial zone is  二, 一 九0ha, and co妹妹ercial area  一, 五 二 三ha. The park is located in the heart of Tây Ninh Province, the junction between HCM City and Phnom Penh.

In the first nine months of the year, GVR recorded revenue of VNĐ 一 二 trillion, post-tax profit reached VNĐ 二 trillion, down  六 per cent and  一 二 per cent compared to the first nine months of  二0 一 九.

GVR plans to achieve revenue of VNĐ 二 四. 六 五 trillion in  二0 二0 and after-tax profit of VNĐ 四 trillion, up by  八 per cent and  五 per cent respectively compared to  二0 一 九.

Thus after the first nine months of the year, the company has only completed  五0 per cent of the profit plan.

In terms of cash flow, in the first nine months of the year, cash flow from main businesses was positive at VND 一. 二 四 四 billion over the same period last year.

As of September  三0, GVR's total assets increased by 0. 九 per cent to VNĐ 七 九. 二 trillion, of which the amount of money and financial investment increased by  一 三. 七 per cent compared to the beginning of the year, corresponding to an increase of VNĐ 一. 九 trillion to VNĐ 一 五. 五 trillion, accounting for  一 九. 六 per cent of total assets. — VNS