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Banking & Finance

SCIC to exit entirely from Kim Lien JSC

Released at: 14:33, 06/11/2015

SCIC to exit entirely from Kim Lien JSC

State Capital Investment Corporation to sell its 52% holding in company via auction on December 22.

by Quynh Nguyen

The Hanoi Stock Exchange (HNX) has announced a full auction of the shares held by the State Capital Investment Corporation (SCIC) in the Kim Lien Tourism Joint Stock Company (KLC).

3.6 million shares will be auctioned, or 52.4 per cent of the company’s charter capital, at a starting price of VND30,600 ($1.3) per share. The total value of the divestment is around VND112 billion ($5.04 million), with the auction expected to take place on December 22.

Other major shareholders in the company include GPBank, with 21.6 per cent, PTFinance with 6.7 per cent, and GP Invest with 6.6 per cent.

KLC Shareholder Structure

KLC primarily operates in the field of restaurant and catering services. In 2014 it recorded revenue of VND127 billion ($5.7 million) and after-tax profit of VND13.5 billion ($607,500).

The company also manages the Kim Lien Hotel in Hanoi, which has a long history in the capital and sits on 3.5 ha in Dao Duy Anh Street, Dong Da district. It was opened in 1961 and was formerly known as the Bach Mai Hotel. The hotel has nine buildings, 437 rooms, and five restaurants.

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