Ha Tien 1 Cement JSC (HT1) has completed the issuance of 120m new shares in a private placement to Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer.

HT1, listed on the Ho Chi Minh stock exchange, sold the shares at VND10,000 each, according to a statement sent to the bourse. The company added that the sale is aimed to reduce its debt incurred with Vicem.

After the issuance, Vicem raised its holding in HT1 to 79.69 per cent, equal to 253.42 million shares, from the earlier 67.38 per cent