Vietnam Garment Group to Launch IPO Early 2010
The Vietnam Textile and Garment Group (Vinatex) plans to carry out its initial public offering (IPO) early next year after selling shares in all of its affiliate by the end of this year, according to a senior official of Vinatex.
The group will complete the process of corporate value appraisal in the fourth quarter of 2009, said Vinatex’s Chairman Le Quoc An.
Vinatex will list its shares on the exchange for public companies (UpCom) first rather than on listed exchanges after the IPO, An said.
In the first seven months, Vinatex made profit of VND300 billion on shrinking export markets amid the global economic downturn.
This year, Vinatex targets VND500 billion profit.
Vietnam is forecast to export US$9.1 billion-US$9.2 billion worth of apparel exports in 2009, equal to that of last year. (Stock Investment)
Vietnamese
