Vietnam Rubber Group to launch IPO in early February
Tuesday, January 23,2018
AsemconnectVietnam - Vietnam Rubber Group (VRG) is expected to list its shares on the HCM Stock Exchange in June or July after its initial public offering on February 2.
Pham Van Thanh, head of VRG’s planning and investment department, revealed the IPO road map at an event on January 18.
The corporation will auction 475 million shares, equivalent to 11.88% of its total chartered capital of VND40 trillion (US$1.76 billion).
A similar number will be offered to strategic investors with 831,000 shares earmarked for employees and the trade union.
The State will retain three billion shares or 75% of the capital after equitisation.
The minimum price for the auction has been set at VND13,000.
Investors have to submit their bids by January 31.
Investors have to submit their bids by January 31.
A month after the IPO, VRG would list on UPCoM, and by June or July at the latest in HCM Stock Exchange, Thanh said.
Last year, the group achieved VND3.6 trillion in net profit on revenues of VND19 trillion, easily achieving the targets it had set at the beginning of last year.
The group’s core business is natural rubber, which brings around 70% of its total revenues.
According to a Vietcombank Securities (VCBS) report, VRG enjoyed a good year in 2017 thanks to the strong global recovery in natural rubber prices.
VCBS has a positive outlook for the group in 2018 since the price of rubber will still remain high.
Besides, old rubber trees would be a large source of income, the report said.
VCBS has recommended a reasonable price of VND16,660 for the share in the IPO.
Source: Vov.vn
Binh Son Refining and Petrochemical JSC (BSR) achieved revenue of VND67,741 billion in the first half of 2023
Viettel Global: Consolidated revenue reached nearly VND6,900 billion in Q2/2023
KienlongBank (KLB): Consolidated profit after tax reached VND321.4 billion, up 15% in 6 months
Truong Thinh Energy Investment (TTE): Profit in Q2/2023 increased thanks to financial revenue
Profit of MST Investment (MST) increased by 175.1% to VND45.75 billion in Q2/2023
Viglacera exceeded the profit target in 2023 in the first 7 months
Tan Tao's profit (ITA) decreased by 78.8% to VND23.88 billion in Q2/2023
SNP 2023 - Run As One - Run together for a sustainable development community
Business activities of oil and gas companies in June 2023
Business activities of banks in July 2023
MB (MBB) earned VND12,735 billion in the first 6 months, adding 4 million new customers
Eximbank (EIB): Profit in Q2/2023 fell by more than half over the same period
Vosco's profit (VOS) decreased by 99.6% to VND1.08 billion in Q2/2023
Investment TDG Global (TDG) earned VND750 million profit in Q2/2023, down 83%
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...
