A unit of electronics manufacturing giant Foxconn said it will launch an initial public offering in China on Thursday aimed at raising $4.2 billion, in the biggest mainland debut for three years. The Foxconn Industrial Internet IPO would be one of the biggest on the Shanghai Stock Exchange since the market collapse in 2015. (Photo: AFP/JOHANNES EISELE) Taiwan's Foxconn Industrial Internet, which makes electronic devices, cloud service equipment and industrial robots, will float 10 per cent of its total shares, according to a prospectus filed late Tuesday (May 22) with the Shanghai stock exchange. Taipei-based Foxconn itself, which is also known as Hon Hai Precision Industry Co, is the world's largest electronics contract manufacturer, a major supplier of components and assembler of products by international brands such as Apple and Sony. Foxconn Industrial Internet will issue 1.97 billion new shares at 13.77 yuan per share to raise 27.1 billion yuan (US$4.2 billion). The IPO … [Read more...] about Foxconn unit to raise US$4.2 billion in China IPO
EVNGenco 2 to be “make up” before IPO to lure investors Fluctuating profit Not unlike EVNGenco 3, whose IPO was a massive failure (it only sold 7.4 million of the 267 million shares launched), EVNGenco 2 operates in the state-owned sector with great development potential. Alongside subsidiaries fully owned by EVN and accounting units that are dependent on the parent company (Can Tho Thermal Power Company, Quang Tri Hydroelectricity Company, Song Bung Hydroelectricity Company), EVNGenco 2 owns 50 per cent of the charter capital of companies like Haiphong Thermal Power Company, Pha Lai Thermal Power Company, and Thac Mo Hydroelectricity Company. In addition, EVNGenco 2 is in charge of many energy investment projects, including Hai Phong Thermal Power II, O Mon Thermal Power 1, 2, 3, 4, Trung Son Hydroelectricity, and Expanded Thac Mo Hydroelectricity, among others. Although EVNGenco 2 generates increasing revenue, its profit has steadily decreased between 2014 and 2017. … [Read more...] about EVNGenco 2 to be effectively improved before IPO?
VTVCab’s IPO was suspended as only one investor registered to join. The lack of interest may be due by VTVCab’s arbitrary decision to axe 22 foreign channels. After the misplaced decision to axe a number of popular channels, VTVCab's IPO fell through According to information published by the Hanoi Stock Exchange (HNX), as of April 10—the deadline to register for the IPO—there was only one investor interested in VTVCab’s shares. Thus, VTVCab failed to meet the conditions to organise the auction. Previously, HNX released information about VTVcab’s IPO. Accordingly, it will offer 42.3 million shares, equalling a 47.84 per cent stake, at the initial price of VND140,900 ($6.18). With this price, VTVcab is valued at VND12.45 trillion ($546.2 million). According to the equitisation plan, after the IPO, the state would have kept 51 per cent in the firm. However, after issuing its IPO plan, VTVCab arbitrarily cut 22 foreign channels … [Read more...] about VTVCab IPO unmarketable after scandal of cutting foreign channels
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) launched on Friday the nation’s biggest IPO that aims to raise as much as $922 million and has attracted global funds as cornerstone investors, a term sheet of the deal showed. Equity issues are booming in the Southeast Asian nation as it speeds up a privatization drive. Strong interest from foreign investors and local funds has pushed up the benchmark index .VNI by 19 percent so far this year, making it one of Asia’s best performers after rising nearly 50 percent last year. Techcombank, Vietnam’s largest private sector bank, is offering shares in a price range of 120,000-128,000 Vietnamese dong per share ($5.27-$5.62) that will raise between $864 million to $922 million, according to the term sheet seen by Reuters. Singapore wealth fund GIC, Fidelity Management and Research and Dragon Capital are among funds coming in as cornerstone investors, the term sheet showed. Techcombank’s IPO will be … [Read more...] about Techcombank kicks off Vietnam’s biggest IPO that aims to raise $922 million
FiinPro Talk #6 “Vietnamese Banking Stocks: Investment Opportunities and Risks” will take place in HCM City on April 19. The event will be attended by senior experts in the banking and financial industry and some 150 participants, including fund and asset managers, financial investors, banking executives and analysts. They will share their knowledge and insight on the important trends of Viet Nam’s banking industry and finance companies, macroeconomic or monetary policies affecting the banking system and the stock market in Viet Nam, as well as chances and threats when gaining exposure in banking stocks. Key themes to be addressed during the event include the banking sector landscape; key growth drivers in 2018 and the near future; major policies and their implications for banking stocks and IPOs; key investment considerations in listed stocks and upcoming listings; and upside opportunities and risks in select banking stocks. After going through the difficult period … [Read more...] about FiinPro Talk #6 to launch in HCM City