Vinalines to make second effort to sell its shares

Over 480 million shares that the State-owned Vietnam National Shipping Lines (Vinalines) failed to sell at its recent initial public offering (IPO) will be offered to investors in the near future.

vinalines to make second effort to sell its shares hinh 0

The IPO, held at the Hanoi Stock Exchange earlier this month, saw 42 investors purchasing about 5.44 million shares, or just over 1% of the nearly 490 million shares offered, at an average price of VND10,002 (US$0.43) apiece.

Nearly 5.14 million shares were purchased by individual investors while the remaining 300,000 were sold to organisations. The highest winning price was VND13,000 (US$0.56) per share.

Vinalines said it will offer up all the shares leftover from the IPO, as well as those which were meant to be sold at preferential rates to its employees and the trade union.

The eligible investors are those who won at the IPO on September 5, with the selling prices as their winning prices at that event.

Investors can register to take part in the next offering until 4pm of September 30, Vinalines said.

It added that a major shipping company from the Republic of Korea is currently assessing investment opportunities in order to participate in the upcoming offering. If everything is favourable, about 5-6% of shares could be sold to this firm. 

VNA

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