HCM City Securities Corporation (HSC) and the Urban and Industrial Zone Development and Investment Corporation (IDICO) signed a contract on Wednesday for wide-ranging co-operation.
HCM City Securities Corporation (HSC) and the Urban and Industrial Zone Development and Investment Corporation (IDICO) signed a contract on Wednesday for wide-ranging co-operation.
The securities firm will provide securities and other stock market-related services to IDICO, and in return the latter will get opportunities to invest in projects planned by HSC and its 13 subsidiaries.
IDICO’s chairman, Nguyen Tien Cam, told Viet Nam News that the first deal to be awarded to HSC would be an initial public offering for the Srok Phu Mieng Hydro Power Plant which his firm owned.
HSC will arrange for an auction of three million shares of the Binh Phuoc Province-based power plant at the HCM City Stock Exchange on December 17. The 51MW facility began generating power late last year.
IDICO is developing other power projects and has 14 industrial park spreading over 10,000ha in Dong Nai, Ba Ria – Vung Tau, Long An, Vinh Phuc, and Bac Ninh.
HSC has advised 40 companies on initial public offerings.
(Source: VNS)
