Ca Mau Fertilizer IPO successful

Petro Viet Nam Ca Mau Fertilizer Company Limited sold out nearly 129 million shares offered at its Initial Public Offering (IPO) in the Ho Chi Minh City Stock Exchange on December 11.

Average selling price was VND12,251 per share, VND251 higher than the starting price. The auction section brings a total value of VND1.58 trillion (US$74.26 million).

Ca Mau Fertilizer is scheduled to list on the stock market by March next year. Its chartered capital is expected at VND5,294 billion (US$247.71 million) after equitization. Parent company Vietnam National Oil and Gas Group (PVN) will hold 51 percent shares.

By Nhung Nguyen – Translated by Hai Mien

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