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Di An train company raises $213,000 in IPO
Di An single-member limited liability train company auctioned over one million shares in its initial public offering (IPO) on the HCM City Stock Exchange (HOSE) on December 14.
The shares auctioned, for which the bidding was initially set at VND10,000 (US$0.44) per unit, are equivalent to 15.56 per cent of the company's charter capital after equitisation. This is the 38th auction held on the HOSE this year.
After the auction, 488,100 shares were sold to nine individual investors with an average price of VND10,000 a share. The total value of shares sold went over VND4.8 billion (US$212,900).
Di An Train Company, a member company of the Viet Nam Railways (VNR), was established under the Minister of Transport's Decision No1025QD/TCCB-LD dated May 27, 1993.
The company is operating mainly in the fields of repairing and producing train carriages, mechanical processing and leasing retail space.
Under the equitisation plan approved by the Ministry of Transport, the company's charter capital was VND65 billion ($2.8 million), equivalent to 6.5 million shares, with a value of VND10,000 ($0.44) per share.
After equitisation, the VNR, as a State representative, will retain 75 per cent of Di An company's charter capital, equivalent to 4.8 million shares, employees owned 9 per cent (equivalent to 613 800 shares) while investors would be able to hold 16 per cent (the equivalent of 1 million shares).
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