Under its equitisation plan, Vinafood 2 has a charter capital of VND5 trillion with 51 per cent possessed by the State. — Photo cafef.vn Viet Nam Southern Food Corporation (Vinafood 2) sold its entire offering of nearly 115 million shares, equivalent to 22.97 per cent of its charter capital, in its initial public offering (IPO) on the HCM Stock Exchange on Wednesday. At the average winning price of VND10,100 per share, equal to the minimum bidding price set for the auction, the State collected nearly VND1.16 trillion (roughly US$51 million) from the share sale. Before the IPO, 41 investors registered to take part in the auction, including 31 domestic and 10 foreign investors. Under its equitisation plan, Vinafood 2 has charter capital of VND5 trillion with 51 per cent possessed by the State. The company sold nearly 23 per cent to the public while about 25 per cent will be offered to the strategic investor. The remainder will be sold to its employees and workers at a … [Read more...] about Vinafood 2 IPO sells entire share offering
Share offering
Genco 3’s IPO ends with only 3 percent of shares sold
Genco 3 puts up over 267 million shares, equivalent to nearly 12.84 percent of its charter capital for sale in the IPO. (Photo: VNA) HCM City (VNA) - Only 3 percent of a total of 267 million shares offered in the initial public offering (IPO) of Power Generation Corporation 3 (Genco 3) on February 9 were sold successfully, a poor result given the high market expectations before the sale. Genco 3 put up over 267 million shares, equivalent to nearly 12.84 percent of its charter capital, for sale in the IPO on the HCM Stock Exchange but only 7.45 million shares, or 3 percent of the total shares, were purchased. About 336 investors, including 16 foreigners (14 individuals and two institutions), took part in the IPO. At the average winning price of 24,802 VND (1.09 USD) per share, slightly higher than the minimum bidding price of 24,600 VND a share, Genco 3 collected 184.8 billion VND from the share sale. Nguyen Van Le, chairman of Genco 3, attributed the poor result to the bad … [Read more...] about Genco 3’s IPO ends with only 3 percent of shares sold
Falling momentum stays as shares offloaded
Falling momentum stays as shares offloadedBy Thuy Trieu - The Saigon Times DailyHCMC - The sharp contrast between supply and demand invigorated the falling momentum yesterday, dragging the VN-Index down by a staggering 12.29 points, or 2.68%, from the previous session to 445.59 points, despite a few gainers shed a dim light at the end of the tunnel.The Hochiminh Stock Exchange reported that demand rose by 26.8% to 2.72 million shares, still a trivial fraction compared to the supply of 76.9 million shares, down 25.7%. The market ended up in over two million shares changing hands worth VND96.5 billion, down 20.3% from the previous session.The downbeat note was visible from the opening, as investors rushed to offer over 52 million shares against bids of about one million shares only in the first matching phase. In the dreary day, however, there were still six gainers, all shooting to the ceiling prices. All the remaining 149 stocks took nosedive, plunging to the floor prices. In the … [Read more...] about Falling momentum stays as shares offloaded
State company shares remain unappealing to some investors
VietNamNet Bridge - Except Sabeco and Vinamilk shares, the other divestments by the state have not succeeded as expected. SCIC plans to disinvest from many enterprisesThe divestments of Vinamilk and Sabeco shares in the last two months of 2017 brought satisfactory results. SCIC (State Capital Investment Corporation) sold 3.33 percent of Vinamilk shares, collecting VND9 trillion, or VND2 trillion higher than initially expected.Meanwhile, MOIT (Ministry of Industry and Trade) auctioned 53.59 percent of Sabeco shares, collecting $5 billion.The auction of Idico shares organized was also ‘hot’ with 40 foreign institutional investors registering to attend. 55 million shares were sold, bringing VND1.324 trillion, of which 74.8 percent was acquired by foreign investors.However, other share auctions were not as successful because of the indifference of investors.A number of SOEs queued up for their IPOs in the last days of 2017 and early 2018, though investors did not show … [Read more...] about State company shares remain unappealing to some investors
Vinafood 2 to offer 25% stake to strategic investors
Deputy Prime Minister Vuong Dinh Hue has approved the equitisation plan of Viet Nam Southern Food Corporation (Vinafood 2).Vinafood 2’s charter capital is VND5 trillion (US$220 million), of which, the State will hold 255 million shares, representing 51 per cent of charter capital after the equitisation. The Ministry of Agriculture and Rural Development will be the representative of State ownership in the company following the equitisation.The number of shares offered in the initial public offering (IPO) is over 114.8 million shares, representing 22.97 per cent of the charter capital. The starting price of the IPO is VND10,100 per share.Nearly five million shares will be sold to employees, equivalent to 0.99 per cent of charter capital. The stake sold to the trade union organisation at the enterprise is 200,000 shares, representing 0.04 per cent of the charter capital.Strategic investors will be able to purchase 125 million shares, representing a quarter of Vinafood 2’s … [Read more...] about Vinafood 2 to offer 25% stake to strategic investors
Becamex IDC to auction leftover IPO shares
The Investment and Industrial Development Corporation (Becamex IDC) plans to sell the shares left over from the firm’s initial public offering (IPO) in early December.Becamex IDC will offer more than 296.4 million shares for sale on January 3 at the starting auction price of VND31,000 (US$1.38) per share – equal to the starting selling price at the firm’s IPO.Only the investors that took part in the company IPO are allowed to attend the coming share sale, which will be held at the HCM Stock Exchange.Investors can sign up to participate in the auction between December 26 and 29.The Becamex IDC IPO on December 1 was considered a failure as the company was able to sell only 6.1 per cent of total 311.2 million shares offered for auction.At the IPO price level of VND31,000 per share, the company IPO had been expected to be the biggest IPO in 2017 and the second-biggest since Vietcombank IPO in late 2007.According to investors, the starting auction price that Becamex IDC … [Read more...] about Becamex IDC to auction leftover IPO shares
Sông Đà Corp’s IPO to sell 219m shares
HÀ NỘI — State-owned Sông Đà Corporation will offer 219 million shares at its initial public offering (IPO) scheduled on December 25. The shares will be auctioned at the Hà Nội Stock Exchange (HNX) at the starting price of VNĐ11,000 (48 US cents) per share. The shares offered account for 48.82 per cent of the company’s chartered capital. According to the IPO plan, following equitisation, the company’s chartered capital will be VNĐ4.5 trillion, 51 per cent of which will be owned by the Government. The company plans to sell 822,000 shares to its employees at preferential prices and nearly 219.7 million shares will be sold to strategic investors through HNX’s auctions. According to the company’s audited 2016 financial report, it had total assets of VNĐ31.9 trillion by the end of last year. Its owner equity was VNĐ7.83 trillion and total debts amounted to nearly VNĐ24.1 trillion, with short and … [Read more...] about Sông Đà Corp’s IPO to sell 219m shares
NOTICE OF THE INITIAL PUBLIC OFFERING OF BINH SON REFINING AND PETROCHEMICAL CO., LTD
NOTICE OF THE INITIAL PUBLIC OFFERING OF BINH SON REFINING AND PETROCHEMICAL CO., LTD Pursuant to Decision No. 1978/QD-TTg dated 08/12/2017 of the Prime Minister on the approval of Equitization Plan of Binh Son Refining and Petrochemical Co., Ltd; the Organizing Board of the Public Offering would like to announce the Offering process as follows: 1. Issuer: BINH SON REFINING AND PETROCHEMICAL CO., LTD 2. Head Office: 208, Hung Vuong Boulevard, Tran Phu Ward, Quang Ngai City, Quang Ngai Province 3. Telephone: (084) 255 3825825 Fax: (084) 255 3825826 4. Charter … [Read more...] about NOTICE OF THE INITIAL PUBLIC OFFERING OF BINH SON REFINING AND PETROCHEMICAL CO., LTD
Song Da Corp’s IPO to sell 219 million shares
The state-owned Song Da Corporation will offer 219 million shares at its initial public offering (IPO) scheduled on December 25. The state-owned Song Da Corporation will offer 219 million shares at its initial public offering (IPO) scheduled on December 25. (Photo: baodauthau.vn)The shares will be auctioned at the Hanoi Stock Exchange (HNX) at the starting price of 11,000 VND per share.The shares offered accounts for 48.82 percent of the company’s chartered capital.According to the IPO plan, after equitisation, the company’s chartered capital will be 4.5 trillion VND (198.3 million USD), 51 percent of which will be owned by the Government. The company plans to sell 822,000 shares to its employees at preferential prices and nearly 219.7 million shares will be sold to the strategic investors through HNX’s auctions.According to the company’s audited 2016 financial report, it had total assets of 31.9 trillion VND (1.4 billion USD) by the end of last year. Its owner … [Read more...] about Song Da Corp’s IPO to sell 219 million shares
Agribank successfully sells shares at AJC
All shares of the Agribank Gold Joint Stock Corporation (AJC) offered by the Vietnam Agriculture and Rural Development Bank (Agribank) at the December 15 auction were sold to three domestic investors, the Ha Noi Stock Exchange announced.The stock exchange said the three investors bought more than 12.62 million AJC shares, equivalent to 61.24 per cent of charter capital, at the average bidding price of VND15,044 (66 US cents) per share.The price is 8.2 per cent higher than the initial price of VND13,900 per share offered by Agribank, helping the bank earn VND189.79 billion ($8.4 million) from the auction.Earlier, 13 investors registered to buy AJC shares.The bank, which was set up in 1994, earned revenue of VND1.2 trillion in 2016, a decline of 22 per cent compared with 2015. In the first six months of the year, AJC posted revenue of VND503 billion and after-tax profit of VND1.3 billion. — VNS … [Read more...] about Agribank successfully sells shares at AJC