IPO Vinasugar I sells handful of stakes

Only 436,600 shares, just 3.3 per cent of Vinasugar I stakes, were sold at the company's initial public offering (IPO) on Wednesday.

The successful bidding price on the Ha Noi Stock Exchange was over VND10,100 (US$0.48) a share.

The result is disappointing in the context that the company put more than 13.3 million shares on sales, about 22.24 per cent of its charter capital.

Sugar remains Vinasugar I's main product and it occupies 19.23 per cent of the market share.

In addition, the company imports and exports confectionery products, spices and beverages, of which Hai Chau is its most famous brand.

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