EAST Coast Vulcan Corp., formerly known as Vulcan Industrial & Mining Corp., will be selling a 7.33-percent stake in the firm under a plan to raise its public float to 20 percent.

In a statement issued on Friday, the firm said that Chairman Hilario Pagauitan and Vice Chairman Sofia Pagauitan had inked a memorandum of agreement (MoA) with Techno-Asia Construction and Development Inc. (TACD) for the assignment and transfer of 486,055,662 partially paid shares representing 7.33 percent of East Coast Vulcan's outstanding capital stock.