Telecom operator Vietnam Posts and Telecommunications Group (VNPT) will auction 765,000 shares of Viteco Vietnam Telecommunications Technology Joint Stock Company on December 14.
The auction will be held at the Saigon-Hanoi Securities Joint Stock Company. The number of shares put up for sale is equivalent to 49 per cent of Viteco’s charter capital. The starting price will be VND40,789, four times higher than the par value.
The total accumulated loss for the company by the end of 2017 was VND10.3 billion (US$440,300). The owner’s equity was estimated at VND8 billion.
Viteco owns two valuable plots of land in Hanoi. The first covers 1,046 metres at Lane 61, Lac Trung Street. The latter spans 516.4 metres at Lane 250, Khuong Trung Street.