Saigon Ground Services sells shares at excellent price

Saigon Ground Services (SAGS) has successfully sold more than 2.7 million shares at an average price of VND44,693 (US$2.12) per share, which is 3.6 times higher than its initial price.

The total shares sold by SAGS during the auction of the initial public offering on the HCM City Stock Exchange (HoSE) on December 8 amounted to VND120.9 billion ($5.76 million).

There were 254 investors registered to purchase the SAGS shares. However, the 2.7 million shares sold were seized by only seven of them, with the highest auction price paid at VND56,000 ($2.6) per share and the lowest at VND44,500 ($2.1).

After equitisation, SAGS is expected to have more than VND140.508 billion ($6.69 billion). The company provides ramp services, including passenger boarding bridges, aircraft pushback and tow-in, and marshalling for all airlines at the Tan Son Nhat Airport.

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