Vietnam’s Vegetexco To Launch IPO in September

Viet Nam National Vegetable, Fruit and Agriculture Product Corp Ltd (Vegetexco) is set to hold its initial public offering (IPO) on 04 September, with plans to sell 27.67 million shares, local media reported.

According to Viet Nam News, Vegetexco will offer an opening price of VND10,000 per share, or about USD0.45.

The report said the volume of shares is equal to 38.8 percent of the company’s charter capital.

As this developed, the multi-sector T&T Group reportedly plans to purchase 35 percent of shares of Vegetexco, making one of the company’s strategic investors.

After equitisation, the company’s charter capital is expected to be VND713 billion ($32.9 million), equal to 71.3 million shares.

Of that amount, 42.78 million shares will be sold to strategic investors, and 850,200 shares will be allocated to the company’s workers. – BusinessNewsAsia.com

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