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Khánh Hòa beverage firm to join UPCoM

Update: October, 21/2017 - 08:58
The Hà Nội Stock Exchange has approved the listing of Khánh Hòa Sanest Beverage Company on the Unlisted Public Company Market (UPCoM).— Photo baokhanhhoa.vn

HÀ NỘI — The Hà Nội Stock Exchange has approved the listing of Khánh Hòa Sanest Beverage Company on the Unlisted Public Company Market (UPCoM).

Khánh Hòa Sanest Beverage Company, subsidiary of Khánh Hòa Salanganes Nest Company, will become the first company to trade shares on the stock market while it remains a limited-liability company that has not fully transformed into a joint-stock firm.

The company, with VNĐ330 billion in charter capital, will trade nearly eight million shares on UPCoM under code SKH. The shares will start trading at VNĐ27,800 (US$1.23) per share on October 25.

The company earned VND222.7 billion ($9.8 million) from the IPO.

The amount of shares Khánh Hòa Sanest Beverage Co will trade on UPCoM is equal to the number of shares the company offered at its initial public offering (IPO) in mid-September: eight million shares or 24 per cent of its capital.

At the IPO, the company’s shares were sold at the starting price of VNĐ23,000 per share and bought for an average price of VNĐ27,937 per share.

The IPO drew the participation of eight institutional investors and 285 individuals, who signed up to purchase a total of more than 20.6 million shares.

After the IPO, Khánh Hòa Sanest Beverage plans to sell around 6.93 million shares or 21 per cent of its capital to an unidentified strategic investor at VNĐ23,000 per share.

Another 1.24 million shares, equal to a 3.8 per cent stake, will be sold to the company’s employees and the Government will hold 51 per cent of the company’s charter capital.

The company will be renamed Khánh Hòa Sanest Beverage Joint Stock Company after the equitisation plan is completed.

The company became the second subordinate unit of Khánh Hòa Salanganes Nest Co to hold an IPO after Diên Khánh Sanest Co had its IPO on June 29, 2016. — VNS

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