Vietnam’s infra major Licogi offloads 23.6%, raises $9.9m in IPO

Visual from the company's website

Vietnam’s leading infrastructure construction consortium Infrastructure Development and Construction Corporation (Licogi) sold out 21.27 million shares in its initial public offer (IPO), which attracted more than 106 individual investors.

The float was over subscribed and the company raised VND212.84 billion ($9.9 million) from the share sale.

Also read: Licogi IPO plan approved, realty assets attract investors

The company with VND900 billion ($41.86 million) in charter capital has offloaded 23.6 per cent to the public. In addition, a 35 per cent stake will be sold to Khu Dong Real Estate Investment Co Ltd, as its strategic partner.

After the equitisation, Licogi will continue to focus on installation as its key operation and expects to earn a production value of VND49 trillion ($2.3 billion) from this array during the next five years. This represents an increase of 74 per cent as compared to the 2011-2015 period.

Also read: Licogi finds strategic partner

From now until 2017, the infrastructure major plans to achieve VND1-1.6 trillion ($46.5-74.4 million) in revenue and VND47-75 billion ($2.2-3.5 million) in profit after tax.

Licogi will invest in the central Thanh Hoa province-based Cam Thuy 2 Hydropower project and a spate of urban and industrial areas.

Related stories: 

Vietnam’s Vimico hopes to offload 25% stake during IPO

Vietnam’s Vingroup buys 80% stake in VEFAC via IPO

Vietnam hastens IPOs of state-owned firms

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.