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Hancorp to divest stake in ICON4

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HCMC – The Hanoi Construction Corporation (Hancorp) on September 1 will auction its remaining shares in Investment and Construction JSC No. 4 (ICON4, Code: CC4) to divest its stake in ICON4, said a representative of the Hanoi Stock Exchange.

Hancorp is set to auction over four million CC4 shares worth more than VND41 billion, equivalent to nearly 26% of ICON4’s chartered capital, at a starting price of VND26,000 per share, reported VietnamPlus news site.

Currently, shareholders holding over 5% of ICON4’s chartered capital include Hancorp with a 25.86% stake, Taseco Land Investment JSC with an 18% stake and three individual shareholders with a total stake of 42.95%.

In January 2008, the State Securities Commission granted an initial public offering (IPO) certificate to ICON4 with total IPO shares exceeding four million. However, until July 28, 2017, the shares of ICON4 were officially listed on the market for unlisted public firms, or UPCoM, following a Hanoi Stock Exchange decision.

Last year, ICON4 reported its net revenue of VND291 billion and after-tax profit exceeding VND1.3 billion.

Its operations to receive bids and offer bidding consultancy to civil, industrial, traffic, irrigation and other infrastructure projects accounted for over 64% of the 2019 turnover. Besides this, activities to offer various services in terms of working out designs for residential, urban and industrial areas contributed 18% to the overall revenue.

Apart from that, ICON4 also operates in the field of real estate, which generated over VND67 billion in revenue last year.

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