Vietnam producer to delist from Hanoi Stock Exchange

Vinaconex Xuan Mai Concrete & Construction's shareholders have approved a plan to de-list nearly 20m shares from the Hanoi Stock Exchange.

To facilitate the plan, Khai Hung Company, a major shareholder of XMC, will buy the shares from other shareholders at not below VND5,600, the floor price of XMC shares on 11 October 2013.

Earlier, Khai Hung bought a 51 per cent stake, or 10.2 million shares, of XMC from Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex).

The company has a registered capital of VND200bn (US$9.43m). In the first half of this year it reported a net profit of VND21.49bn (US$1.01m) on revenue of VND349.99bn.