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State earns $196m from IPOs in 10 months

Update: November, 03/2015 - 09:05
HA NOI  (VNS) — The State has earned VND4.4 trillion (US$196 million) from selling its capital in 51 initial public offerings (IPOs) during the first 10 months of this year, the Ha Noi Stock Exchange (HNX) reported yesterday.

The HNX also said that the State successfully sold all of the shares offered in 33 IPOs or 64.7 per cent of the 51 IPOs, and earned the highest revenue from selling all of its 33.88 million shares in service provider Thang Long GTC One-member Company Limited, which sold for VND363 billion ($16.4 million).

The State also received large revenue from selling entire stakes in IPOs of other state-owned enterprises (SOEs), including VND116.8 billion ($5.2 million) from the Central Transport Hospital, VND119 billion ($5.3 million) from the Viet Nam National Tea Corporation Limited, and VND278 billion ($12.35 million) from the Viet Nam National Vegetable, Fruit and Agricultural Product Corporation Ltd.

Among these government-funded units, the Central Transport Hospital was the first government-funded hospital that transformed into a joint-stock business unit.

In addition, the State also received VND767.4 billion ($34 million) in the first 10 months of this year from selling more stakes in 19 SOEs that had been privatised before such as Da Nang Port JSCompany, the Sugarcane and Sugar Corporation No.1 JSC and Viet Nam Intimex Joint Stock Company. — VNS

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