A big and highly-anticipated IPO this month is from Airports Corporation of Vietnam, the sole manager of all 22 international and domestic airports in the country. (Source: VNA) Hanoi (VNA) - About 20 companies are projected to launch initial public offerings (IPOs) on domestic exchanges this month with a total estimated value of more than 4 trillion VND (178.6 million USD).
The IPO of industrial zone developer Sonadezi Corporation, expected on December 30, is the biggest offering in terms of value with 131.3 million shares being put up for sales, equivalent to 34.9 percent of the company's charter capital.
With the starting price of 10,200 VND (46 US cents) a share, Sonadezi is expected to collect 1.34 trillion VND (59.8 million USD). It is one of the largest industrial park developers in Vietnam with 10 parks under its operation in southern Dong Nai province.
Another big and highly-anticipated IPO this month is from Airports Corporation of Vietnam (ACV), the sole manager of all 22 international and domestic airports in the country.
Over 78 million shares of ACV, about 3.47 percent of its charter capital, will be sold in the IPO on December 10 with the starting price of 11,800 VND (53 cents) a share.
According to the HCM Stock Exchange, 306 investors have registered to buy a total of 114 million shares, of which foreign investors seek to buy nearly 85 million shares, equivalent to 74.6 percent of total bids. With such positive bids, ACV is expected to sell all of its shares and raise at least 918 billion VND (40.8 million USD).
The December IPO wave will also see participation of smaller companies including Civil Engineering Construction Corp No 6 (Cienco 6), Phu Tho Tourist Co, Hanoi Railway Transport Co Ltd, and Tay Ninh Sugar Co Ltd (Tanisugar), apart from Binh Duong Building Materials and Construction Co Ltd.
The Ministry of Transport will sell its entire holding of 92.9 percent stakes in Cienco 6 worth over 450 billion VND (20.1 million USD) on December 31. Other companies will offer between 14 percent and 41 percent of their charter capital, valued from 114 billion VND (5.1 million USD) to 363 billion VND (16.2 million USD).-VNA
