MARD to sell stake in corn company

The Ministry of Agriculture and Rural Development will auction all its stake in the Việt Nam Corn Investment and Development Joint Stock Company at the Hà Nội Stock Exchange. — Photo aseanexchanges.org

HÀ NỘI — The Ministry of Agriculture and Rural Development will offload all its stake in the Việt Nam Corn Investment and Development Joint Stock Company on April  二 五 at the Hà Nội Stock Exchange.

Specifically, the ministry will sell nearly  一. 二 million shares, equivalent to  三 六 per cent of the company’s chartered capital, at the initial price of VNĐ 一 一, 二 六 六 per share, the stock exchange announced.

The divestment is expected to earn VNĐ  一 三. 四 billion (US$ 五 九 五, 五00) for the ministry.

Located on  二 三 一 Nguyễn Thái Học Street in the city’s Đan Phượng District, the company specialises in producing corn seed and importing and exporting corn products.

According to its audited financial report, in  二0 一 六, the company earned VNĐ  一 一. 六 billion in profit after corporate income tax, representing a year-on-year increase of  三. 五 per cent.

As planned, the ministry will conduct an Initial Public Offering for the Việt Nam Rubber Group and the Southern Foodstuff Corporation in the second and third quarter of the year. — VNS