Stock market to see big IPOs in year end

The Vietnamese stock market will witness a number of big Initial Public Offering (IPO) deals in the last three weeks this year, according to the Ho Chi Minh City Stock Exchange (Hose).
Of them, Petro Viet Nam Ca Mau Fertilizer Company Limited will offer 129 million shares on December 11 at a starting price of VND12,000 per share. On the following day, Vietnam National Sea-products Corporation will offer 60.8 million shares at VND10,100 per share.
Besides, Century Synthetic Fiber Corporation will sell 3 million shares, Can Gio Tourism Company will offer 11.5 million shares, Union of Survey and Construction Joint Stock Company 1.6 million stocks, Transport Investment Cooperation and Import Export Company Limited 12 million shares and Saigon Vina Land Joint Stock Real Estate Company 2.25 million shares.
According to Hose, the number of IPO this year is expected to be 2.5fold last year. The IPO progress in the last two months has been up 1.6fold over the first ten months this year.
Hose has successfully organized 31 auction sections including 18 IPOs as of December 2 with a total of 322 million of shares. The 18 IPOs sold out nearly 267 million shares for VND3,876 million.
The stock exchange is expected to host another 18 auction sections including 12 IPOs by the end of this month.
The IPO of Ben Thanh Tourist Company will take place today at Hose to offer 5.9 million shares, equivalent to 23.73 percent of its chartered capital. Starting price is VND10,500 per share. In additional, the company has sold 5.9 million shares to its strategic partners.
Before the IPO section, 48 investors had registered to buy 50.5 million shares of Ben Thanh Tourist, nine fold the auctioned number. Notably a foreign individual investor has registered to purchase all 5.9 million of the offered shares.

By Nhung Nguyen – Translated by Hai Mien

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