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Viettel Post raises VND15.5 billion in initial public offering
Viettel Post Joint Stock Co., a unit of Vietnam Military Telecommunications Corp., raised VND15.5 billion (US$871,100) in an initial public offering.
Viettel Post, as the company is known, sold 1,525,600 shares Friday to 28 investors, according to an e-mailed statement sent by the Hanoi Securities Trading Center, where the auction took place. Investors applied to buy a total 2,126,400 shares, the statement said.
The average winning bid was VND10,171 per share, close to the minimum VND10,100 required from the bidders at the Hanoi center, where smaller companies typically trade rather than in Ho Chi Minh City, the statement said. The highest bid was VND14,000 a share.
“The deadline to list shares on the exchange is the first quarter of next year, however, if everything goes smooth, we can push up the listing process to even sooner,” Luong Ngoc Hai, director of the company, said Friday. Hai said the company had yet to decide whether it would list in Hanoi or Ho Chi Minh City.
Bloomberg, thanh nien
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