In 2024, Binh Dinh will divest all existing state capital, equivalent to more than 3 million shares, at Binh Dinh Minerals Joint Stock Company. However, Binh Dinh Development Investment Fund has only offered 100 shares, accounting for 0.01%.
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| Bimico has a titanium mine in Phu Cat district, Binh Dinh province. Illustrative photo, |
In a report sent to the Steering Committee for Enterprise Innovation and Development, the Ministry of Finance and the Ministry of Planning and Investment on the implementation of state capital divestment and the transformation of public service units into joint stock companies in the fourth quarter of 2024, the People's Committee of Binh Dinh province said that the representative of state capital at Binh Dinh Minerals Joint Stock Company (abbreviated name BIMICO, HOSE code: BMC) placed an order to sell BMC shares from October 24, 2024 to November 21, 2024.
The representative of state capital at BIMICO is Mr. Le Trung Hau, Deputy Director of Binh Dinh Province Development Investment Fund (Mr. Le Trung Hau is also Chairman of BIMICO Board of Directors).
Previously, on October 23, 2024, the People's Committee of Binh Dinh province issued Document No. 8495 on the policy of placing orders to sell BMC shares at a price of VND 22,300/share or more, with the quantity divided into small orders for each sale depending on the market's developments.
As a result, 0.01% of charter capital was divested, reducing the state capital ratio at BIMICO from 25% to 24.99% of charter capital.
Specifically, according to the report sent to the State Securities Commission and the Ho Chi Minh City Stock Exchange on November 25, 2024, Binh Dinh Provincial Development Investment Fund (the organization implementing the transaction) said that the number of BMC shares registered for sale is 3,098,184 shares, equivalent to 25% of charter capital at BIMICO with the transaction period from October 23, 2024 to November 21, 2024.
The result of the transaction is 100 shares (transaction value calculated at par value is 1 million VND, equivalent to 10,000 VND/share). After the transaction, Binh Dinh Provincial Development Investment Fund holds 3,098,084 shares, accounting for 24.99% of charter capital at BIMICO.
According to Binh Dinh Province Development Investment Fund, the reason for not completing the transaction (not executing all registered quantity) is because the market price of BMC shares is lower than the offering price.
It is known that during the trading period from October 23, 2024 to November 21, 2024, BMC stock transactions recorded a closing price of VND 19,550, the highest closing price on October 29 was VND 22,050, the lowest closing price on November 19 was VND 19,500. The closing price of BMC stock on January 7, 2025 was VND 22,150.
On December 25, 2024, the Binh Dinh Provincial Party Committee Office also announced the registration to sell 642,312 BMC shares with an expected transaction value of VND 6,423,120,000 for capital restructuring purposes.
Transaction execution period is from December 30, 2024 to January 28, 2025 with the number of BMC shares held at the time of transaction being 2,642,312 shares (accounting for 21.3% of charter capital).
According to the Plan to restructure state-owned enterprises and enterprises with state capital in the period of 2022-2025 in Binh Dinh province, this locality has 2 enterprises that will complete state capital divestment in the period of 2024-2025.
Including, Binh Dinh Pharmaceutical - Medical Equipment Joint Stock Company will divest all existing state capital at the enterprise corresponding to 13.34% of charter capital. By the end of 2024, Binh Dinh Provincial People's Committee is continuing to develop a plan and organize the divestment of capital at this enterprise.
BIMICO will divest all existing state capital at the enterprise corresponding to 25% of charter capital (the number of state shares held is 3,098,184 shares, equivalent to VND 30,981,840,000). According to Decision No. 190, dated January 16, 2024 of the People's Committee of Binh Dinh province, the progress and completion of state capital divestment at BIMICO is in 2024.
By December 2024, in case the stock transaction is unsuccessful, the representative of the state capital will send a document to the Department of Finance so that this department can provide specific advice to submit to the Provincial People's Committee to issue a document directing the capital representative to implement, ensuring the progress of time and efficiency in divestment.
According to the investigation, on December 31, 2024, the Chairman of Binh Dinh Provincial People's Committee assigned the Department of Finance to preside over the review, based on the approved state capital divestment plan and plan, urgently advise and propose the divestment of state capital at BIMICO to ensure progress.
Source: https://baodautu.vn/binh-dinh-moi-thoai-duoc-001-von-nha-nuoc-tai-cong-ty-co-phan-khoang-san-binh-dinh-d239670.html
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