HANOI: Industrial Zone developer Sonadezi Corporation will sell 131.3 million shares in the initial public offering (IPO) in December 30, the HCM Stock Exchange said.
The shares to be sold in the IPO will be equivalent to 34.9 per cent of the charter capital of the corporation based in the southern Dong Nai Province. After equitisation, the State is expected to own 65 per cent of the charter capital of Sonadezi.
Established in 1990, Sonadezi is one of the most powerful State-owned corporations in Dong Nai. It has developed industrial parks and residential areas in Viet Nam.
Sonadezi has completed nine industrial zone (IZ) infrastructure projects, such as the 488ha Long Thanh IZ, 494ha Amata IZ, 365ha Bien Hoa 2 IZ and 335ha Bien Hoa 1 IZ, besides 347ha Nhon Trach 2 IZ in Dong Nai.
It also developed the 529ha Giang Dien Chau Duc IZ and 2,281ha Suoi Tre IZ in Ba Ria-Vung Tau Province. It was also building roads, bridges and real estates in the local area.
In 2014, the parent company earned VND558 billion (US$24.75 million) in revenue and after-tax profit of VND130 billion ($5.7 million). As of June 30, 2015, the company earned VND20 billion ($887,311). Sonadezi has total assets worth VND4.250 trillion ($188.5 million).
