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Thuong Dinh Footwear Company to hold public offering in June

Update: May, 25/2015 - 08:11

The company will offer 1.9 million shares with an initial price of VND10,000 per share. These shares are valued at 20.46 per cent of the company's chartered capital post-equitisation.— Photo baodautu

HA NOI (VNS) — The Ha Noi Stock Exchange (HNX) will organise an initial public offerings (IPO) for Thuong Dinh Footwear One on June 8.

The company will offer 1.9 million shares with an initial price of VND10,000 per share. These shares are valued at 20.46 per cent of the company's chartered capital post-equitisation.

The company expects a chartered capital of VND93 billion ($4.3 million) after IPO, with 36 per cent of stakes held by the state, 23.54 per cent held by its employees, 20 per cent purchased by strategic investors and 20.46 per cent sold on the market.

The company has stakes in two other firms in Ha Noi - 86.85 per cent of stakes in the Ha Noi Rubber Joint Stock Company and 18.67 per cent of stakes in Ha Noi Truc Bach Paper Joint Stock Company.

Thuong Dinh Footwear Company produces sneakers, sport shoes, sandals and slippers. The company's sales volume averaged over 3.9 million pairs a year from 2012 to 2014.

The company's after-tax profit in 2013 and 2014 were VND930 million ($42,649) and VND3.67 billion ($168,000) respectively. — VNS

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