Phu Nhuan Jewelry to raise $68 million in IPO

Phu Nhuan Jewelry Joint Stock Co., a Ho Chi Minh City-based trader of gold and precious stones, said it plans to raise VND1.2 trillion (US$68 million) in an initial public offering of shares on March 23.

It would sell 30 million shares on the Ho Chi Minh Stock Exchange at an offer price of about VND40,000 a share, the company’s deputy chief executive officer Nguyen Tuan Quynh said.

The company’s profit increased 8.8 percent to VND123 billion last year, Quynh said.

Bloomberg

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