Hanoi Stock Exchange plans five IPOs this month
16:05, 2015/09/09
The Hanoi Stock Exchange (HNX) plans to organise this month five initial public offerings (IPOs) for State-owned enterprises to sell their stakes to external investors.
The Vietnam National Vegetable, Fruit and Agricultural Product Corporation (Vegetexco) has successfully sold all the shares that were offered during the company's initial public offerings (IPO) on September 4.
Six investors took part in the IPO and signed up to buy 31.25 million shares while the company offered only 26.67 million shares through the IPO, equal to 39 percent of the company's capital.
The company sold its shares at an average of 10,052 VND per share, bringing the worth of the auctioned shares to a total of 278 billion VND (12.4 million USD).
After the IPO, Vegetexco will sell the rest of its capital to T&T Group, Saigon-Hanoi Insurance Corporation and Art Export as well as the company's employees.
These investors will hold 35 percent, 15 percent and 10 percent of Vegetexco, respectively, while the company's employees will hold only one percent of the capital.
Vegetexco now has a chartered capital of 731 billion VND (32.5 million USD) and operates in processing, importing and exporting vegetable and agricultural products. In the first half of this year, the company recorded a net profit of 19.6 billion VND, an increase of 17 percent over a year.
Beside Vegetexco, the HNX will also organise IPOs for four other State-owned companies, including the Vietnam National Tea Corporation (Vinatea).
Vinatea plans to organise its IPO on September 16 to sell nearly 11.8 million shares, equal to 31.9 percent of the company's capital, to public investors, at a price of 10,000 VND per share.
After the IPO, Vinatea is expected to have a chartered capital of 370 billion VND (16.4 million USD) and will sell more than 1.6 million shares – 4.4 percent of the capital – to its employees and more than 23.5 million shares – 63.7 percent of the capital – to a strategic investor, namely Thong Nhat Production and Investment Co (GTN).
In addition, the HNX will also organise five auctions so that the State can divest capital in five other state-owned companies.
Last month, HNX organised seven auctions, including four IPOs and three auctions, to help the State make divestments, in which 70 percent of a total 57 million shares offered in the auctions were sold, garnering a total return of 518.3 billion VND (23 million USD) for the State.
Of these seven auctions, in five the HNX sold all the shares to ensure a return of 516 billion VND (22.9 million USD) for the State, including two IPOs and three auctions held to divest the State's share in these companies.
Six investors took part in the IPO and signed up to buy 31.25 million shares while the company offered only 26.67 million shares through the IPO, equal to 39 percent of the company's capital.
The company sold its shares at an average of 10,052 VND per share, bringing the worth of the auctioned shares to a total of 278 billion VND (12.4 million USD).
After the IPO, Vegetexco will sell the rest of its capital to T&T Group, Saigon-Hanoi Insurance Corporation and Art Export as well as the company's employees.
Illustrative image
|
Vegetexco now has a chartered capital of 731 billion VND (32.5 million USD) and operates in processing, importing and exporting vegetable and agricultural products. In the first half of this year, the company recorded a net profit of 19.6 billion VND, an increase of 17 percent over a year.
Beside Vegetexco, the HNX will also organise IPOs for four other State-owned companies, including the Vietnam National Tea Corporation (Vinatea).
Vinatea plans to organise its IPO on September 16 to sell nearly 11.8 million shares, equal to 31.9 percent of the company's capital, to public investors, at a price of 10,000 VND per share.
After the IPO, Vinatea is expected to have a chartered capital of 370 billion VND (16.4 million USD) and will sell more than 1.6 million shares – 4.4 percent of the capital – to its employees and more than 23.5 million shares – 63.7 percent of the capital – to a strategic investor, namely Thong Nhat Production and Investment Co (GTN).
In addition, the HNX will also organise five auctions so that the State can divest capital in five other state-owned companies.
Last month, HNX organised seven auctions, including four IPOs and three auctions, to help the State make divestments, in which 70 percent of a total 57 million shares offered in the auctions were sold, garnering a total return of 518.3 billion VND (23 million USD) for the State.
Of these seven auctions, in five the HNX sold all the shares to ensure a return of 516 billion VND (22.9 million USD) for the State, including two IPOs and three auctions held to divest the State's share in these companies.
16:48, 2025/02/27
Local banks cut interest rates in response to PM’s request
The rate cuts come in response to the Prime Minister’s directive to inspect and review banks that have recently increased deposit rates.
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
- Vietnam GDP expands by 7.09% in 2024
- Vietnam stock market set to accelerate in 2025: Experts
- Vietnam stock market aims for emerging status by 2025: Finance minister
- Vietnam set to extend VAT cut for six months
- Vietnam’s credit growth projected to expand by 16% in 2025
- Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM