Vinamotor raises only US$7.4m through IPO

Viet Nam Motors Industry Corporation (Vinamotor) managed to raise only VND15.7 billion (US$747,000) through its initial public offering (IPO) at the price of VND10,000 ($0.47) per share.

More than 1.571 million shares were sold at an auction, constituting only 3.1 per cent of the total shares put on sales.

Through its IPO, Vinamotor offered 51 million shares at the initial price of VND10,000 ($0.47).

Vinamotor, with an estimated charter capital of VND1 trillion ($47.6 million), reported a turnover of about VND5.6 trillion (US$266.7 million) in 2013. The company produces motor vehicles and motor parts. 

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