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Vietnam government to sell stake in cement giant

The Ministry of Construction is planning to sell its stake in Vicem through an initial public offering in the fourth quarter of 2016. The cement producer has said previously that the state is planning to reduce its holding to 51%. Investors from Indonesia and Thailand have expressed interest in acquiring stakes in Vicem, according to the Dau Tu newspaper.

Vicem, previously known as the Vietnam Cement Industry Corporation, has stakes in 31 companies, mostly cement producers and distributors. Its gross profit reportedly doubled last year to US$105.2m in 2015. It currently controls 34% of the market in Vietnam.

Published in Global Cement News


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