SCIC Vietnam to sell stake in Bình Minh Plastic JSC
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The State Capital Investment Corporation (SCIC) plans to sell nearly 30 per cent of its stake in Bình Minh Plastic JSC or 24.1 million shares on March 9 on the HCM Stock Exchange.
The 24.1 million shares will be sold via competitive bidding and each investor must register to buy at least 20,000 shares.
The starting price will be announced on February 28. The bidding price must be above both the starting level and the daily decreasing band of Bình Minh Plastic Company’s share price on March 9.
For example, if the shares are sold at the starting price of VNĐ100,000 (US$4.44) per share and the decreasing band of the shares is VNĐ95,000 per share, then the bidding price must be above VNĐ100,000 per share.
If the decreasing band of the shares is VNĐ105,000 per share, then the bidding price must be above VNĐ105,000 per share.
If investors forecast the required bidding price as unreasonable compared to their expectations, then they can cancel their bidding by 4pm on March 8.
Investors must deposit at least 10 per cent of their purchase value based on the starting bidding price.
Bình Minh Plastic JSC is listed on the HCM Stock Exchange with code BMP. The company shares jumped 4.6 per cent on Friday to VNĐ93,400.
Questions & Answers
Q.Can investors withdraw their bidding if they find the price unreasonable?
Can investors withdraw their bidding if they find the price unreasonable?
Yes, investors can cancel their bidding by 4pm on March 8 if they forecast the required bidding price as unreasonable compared to their expectations. A deposit of 10% is required initially.