VEFAC to sell 16 million shares in IPO
The Vietnam Exhibition Fair Centre Co Ltd (VEFAC) will auction nearly
16.27 million shares during its initial public offering (IPO) on March
20, the Hanoi Stock Exchange has announced.
The Vietnam Exhibition Fair Centre Co Ltd (VEFAC) will auction nearly
16.27 million shares during its initial public offering (IPO) on March
20, the Hanoi Stock Exchange has announced.
VEFAC's total equity is expected to surge from 166.6 billion VND (7.93 million USD) to nearly 1.67 trillion VND (79.52 million USD) after the equitisation.
Of the total equity, 90 percent will be offered to the public, with 80 percent reserved for a strategic investor, possibly a leading property developer in Vietnam.
Within three years of its equitisation, the company will spend the current equity on business activities related to exhibitions and fairs. It also plans to use the additional amount for new property investments.
The new investments are being projected by the Government as part of a national exhibition and fair centre. They include building an "exhibition city" Nhat Tan–Noi Bai in Hanoi's Dong Anh district, and a 68,380-square-metre trade, services and cultural complex, named Giang Vo, in the Ba Dinh district.
Me Tri, a trade, tourism and culture park will also be constructed in the south-west of the capital and will cover an area of about 126ha.
VEFAC Deputy General Director Nguyen Danh Thuan stated on the company's website that the firm is recruiting more employees to facilitate the implementation of these projects.-VNA
VEFAC's total equity is expected to surge from 166.6 billion VND (7.93 million USD) to nearly 1.67 trillion VND (79.52 million USD) after the equitisation.
Of the total equity, 90 percent will be offered to the public, with 80 percent reserved for a strategic investor, possibly a leading property developer in Vietnam.
Within three years of its equitisation, the company will spend the current equity on business activities related to exhibitions and fairs. It also plans to use the additional amount for new property investments.
The new investments are being projected by the Government as part of a national exhibition and fair centre. They include building an "exhibition city" Nhat Tan–Noi Bai in Hanoi's Dong Anh district, and a 68,380-square-metre trade, services and cultural complex, named Giang Vo, in the Ba Dinh district.
Me Tri, a trade, tourism and culture park will also be constructed in the south-west of the capital and will cover an area of about 126ha.
VEFAC Deputy General Director Nguyen Danh Thuan stated on the company's website that the firm is recruiting more employees to facilitate the implementation of these projects.-VNA
You should also see
Vietnam, China promote judicial cooperation
Minister of Justice Le Thanh Long held talks with his visiting Chinese counterpart He Rong in Hanoi on April 19 to discuss measures to promote judicial cooperation between the two countries.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
