Foreign investors buy 80 percent of shares at ACV’s IPO

The Airports Corporation of Vietnam (ACV) on December 10 held its initial public offering (IPO) at the Ho Chi Minh City Stock Exchange.

This time, ACV auctioned 77,804,122 shares, or 3.47 percent stake, whose face value is VND10,000 per share, with starting price at VND11,800 per share. Eventually, all the shares were sold out at highest price at VND38,300 per share and lowest price at VND13,100 per share. Average tender was VND14,344 per share, VND2,544 per share higher than starting price.

There were 152 winning bidders, of which, 133 are individuals, and 19 are organizations. Noticeably, foreign investors bought 63.7 million shares, or 82 percent of the total amount of shares put up to auction.

ACV runs 22 airports across the country, consisting of 7 international and 15 domestic airports. After the IPO, the Government still hold 75 percent stake at ACV.

Mr. Nguyen Nguyen Hung, chairman of ACV, said that the company will continue to select strategic investors to offer 20 percent stake after the IPO.

By Hanh Nhung – Translated by Thuy Doan

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