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Viet Ha to launch IPO on January 1
Beverage company Viet Ha Corporation plans to launch its initial public offering (IPO) at the Ha Noi Stock Exchange on January 1, 2016.
More than 18.7 million shares will be sold in the IPO, at an initial price of VND10,000 (US$0.44) per share.
Viet Ha Corporation, an enterprise with 100 per cent charter capital from the state budget, has its headquarters at 254, Minh Khai Street, Ha Noi. Its main products are beverages and purified water.
After its equitisation, the company is expected to have a charter capital of VND768 billion ($7.8 million).
The state will hold 51 per cent of the company's shares, while the staff will have 0.34 per cent.
Some 24.33 per cent of the shares will be for strategic investors and the remainder 24.33 per cent, equivalent to 18.7 million shares, will be auctioned publicly.
As of the end of the third quarter this year, the company's total assets were worth VND668 billion ($29.6 million), while its equity reached VND598 billion ($26.1 million). It reported a total revenue of VND214 billion ($9.5 million) and after-tax profit of VND4.3 billion ($191,000).
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