VietNamNet Bridge – Many IPOs (initial public offerings) of large conglomerates did not occur as initially planned, but investors still sought out other impressive IPOs.
1.The IPO of Vissan, a meat supplier, was full of surprises as a lot of big orders at sky high prices were made when the IPO came to an end.
Vissan successfully auctioned 100 percent of the shares it offered to sell at no more than VND102,000 per share and VND67,000 at minimum. The IPO brought revenue of VND907 billion.
After the IPO, Vissan continued selling stakes to find strategic investors. Anco, which accepted to pay VND126,000 per share, has acquired 14 percent of Vissan’s stakes.
2.Fico, a building material company, got VND263 billion from the IPO held on August 19, 2016. All the 25 million shares were sold to 45 investors at VND10,500-16,800 per share.
After the equitization, the state and the strategic investor – Xuan Cau Investment JSC – both hold 40 percent of stakes.
3.CC1, a construction firm Ltd, got VND200 billion from its IPO in July 2016 after selling all 14 million shares on offer.
After the IPO, the state still holds a 40 percent stake, while strategic investors Xuan Loc Construction & Investment JSC has 38 percent and Top American Vietnam JSC 7 percent.
4.Tin Nghia Corporation put 14.8 million shares on sale at its IPO in April. The shares were sold to 12 investors for VND177 billion.
Tin Nghia is now a joint stock company in which the Dong Nai provincial Party Committee holds a 50 percent stake, Thanh Thanh Cong Group 35 percent, Dragon Capital 8 percent and other shareholders 7 percent.
|Many IPOs (initial public offerings) of large conglomerates did not occur as initially planned, but investors still sought out other impressive IPOs.|
5.The IPO of VEAM Holding, a machinery corporation, was listed as the biggest IPO in 2016 which brought VND2.136 trillion.
90 percent of stakes offered to 240 investors at August IPO
Under the nation’s equitization plan, the state would hold 678 million shares, or 51 percent of stakes, while 167 million shares, or 12.57 percent, would be sold to the public.
There is no official information about VEAM’s strategic investor. However, in August 2015, Motor N.A Vietnam (Vinamco) showed its willingness to buy a 36 percent stake in VEAM.
6.The IPO of Hanel, which was once the leading electronics company in Hanoi, was unexpectedly unsuccessful with 80 percent of stakes unsold.
At IPO, held in April, 19.1 million shares were on offer at the starting price of VND10,000 per share. Only 3.9 million shares, or 20.4 million were sold.
7.However, MIE, a machinery and industrial equipment, had the least number of sales
The IPO of the company finished quickly on November 21 as investors only registered to buy 160,900 shares, or 0.11 percent of shares, at the IPO.
USD 1 = VND 22,000