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State-owned Vinalines raises US$19 million in IPO from local bourse
IN a sale of 35.71 million shares on the Vietnamese stock exchange, the state-owned Saigon Port Company Ltd, owned by the state's Vietnam National Shipping Lines (Vinalines), has raised VND411.13 billion (US$18.83 million) in its initial public offering.
The publicly sold shares were sold at an opening price of per share, which rose by 96 per cent to a maximum of VND22,500 per share throughout trading. The average share price was VND11,514, up less than one per cent from its initial price, reported American Shipper.
The shares sold accounted for 16.51 per cent of Saigon Port's chartered capital; and the government of Vietnam retained a 64 per cent stake in the port operator.
Investors included three organisations, namely property developer Vingroup (VIC), Vietnam Bank for Industry and Trade and the Vietnam Prosperity Bank, as well as 36 individuals.
The publicly sold shares were sold at an opening price of per share, which rose by 96 per cent to a maximum of VND22,500 per share throughout trading. The average share price was VND11,514, up less than one per cent from its initial price, reported American Shipper.
The shares sold accounted for 16.51 per cent of Saigon Port's chartered capital; and the government of Vietnam retained a 64 per cent stake in the port operator.
Investors included three organisations, namely property developer Vingroup (VIC), Vietnam Bank for Industry and Trade and the Vietnam Prosperity Bank, as well as 36 individuals.
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