Illustrative image (Source: Internet)
 
Hanoi (VNA) - Binh Son Refining and Petrochemical Company (BSR) will trade shares on the Unlisted Public Company Market (UPCoM) with code BSR on March 1.

The Hanoi Stock Exchange said in a statement that BSR will start trading more than 241.4 million shares at 22,400 VND per share and its trading band is 40 percent on both side of the reference price.

BSR on January 17 launched its initial public offering (IPO) to sell more than 241.5 million shares or 7.79 percent of the company’s charter capital at the starting price of 14,600 VND per share.

The IPO attracted more than 4,000 investors, placing bids for nearly 652 million shares – 2.7 times the number of shares offered for the IPO.

BSR earned 244 million USD from the IPO at the average selling price of 23,043 VND per share. The company will sell 49 percent of its charter capital to the strategic investor and 6.5 million shares to its employees at the preferential price level.

The State will reduce its ownership in BSR to 43 percent from the previous 100 percent. The company earned 5.43 trillion VND in the first nine months of 2017.-VNA