Vissan raises VND907 billion in IPO

State-owned Vietnam Meat Industries Company, known as Vissan, raised nearly VND907 billion in an initial public offering (IPO) after receiving bids that were almost six times higher than the offering price at the Ho Chi Minh City Stock Exchange on March 7.

The firm sold all 11.32 million shares, or 14 percent stake, on offer at an average price of VND80,053 at the auction which attracted 142 local and foreign investors. Of which, the highest bid was VND102,000 per share and the lowest was VND67,000 per share, compared to a starting price of VND17,000 per share set by the firm. Five individual investors and one foreign organization won the auction.

Mr. Van Duc Muoi, CEO of Vissan, said that on March 24 the firm will hold an auction to sell shares to three strategic partners.

According to equitization plan, Vissan has a chartered capital of VND809.14 billion, of which the Government holds 65 percent stake, strategic partners and other investors keep 14 percent stake each, or about 11.33 million shares, and its employees hold 7 percent stake, or about 5.66 million shares.

By Hanh Nhung – Translated by Thuy Doan

Other news

Most view

Vietnam's iron & steel exports hit US$2.53 billion in 7 months

Vietnam's iron & steel exports hit US$2.53 billion in 7 months

According to the Ministry of Industry and Trade, Vietnam exported 3.41 million tons of iron and steel in the first seven months with total turnover of US$2.53 billion, up 40.4 percent in quantity and 56.3 percent in value over the same period last year.

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market