Vietinbank Securities Expects to Raise VND304B in IPO Mid-April
The Vietnam Bank for Industry and Trade (Vietinbank)'s Securities Company (Vietinbank SC) will officially offer its 29.81 million shares in an initial public offering (IPO) at the Hanoi Securities Trading Center in mid April.
The company expects to mobilize VND304 billion (US$17.9 million) from the share sale, Vietinbank SC Director Phan Quoc Huynh said.
The securities firm will offer 11 million shares to strategic partners and 18.81 million shares to other investors at a starting price of VND10,200 each.
The size of shares offered this time is more than double 13.4 million shares Vietinbank SC delayed to offer in late March due to the market unfavorable conditions.
Huynh said the firm will not delay its IPO at any circumstances and float the shares on the country’s stock exchange in June.
Currently, some Japanese institutions are seeking to become strategic shareholders in Vietinbank SC which has a registered capital of VND900 billion. (Vietnam Economic Times)
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