Meat producer Vissan to release 14% stake in March IPO
Top Vietnamese meat processor Vissan has announced that it will have an initial public offering at the Ho Chi Minh City Stock Exchange on March 7.
The firm, officially known as Vietnam Meat Industries Limited Company, has set a starting price of VND17,000 (US$0.76) per share for the IPO.
It will offer 11.33 million shares, equivalent to 14% of its registered capital, to both local and foreign investors.
Both Vissan and its parent trading company Satra are partly owned by the sate.
Vissan offers fresh pork, beef, chicken, ham, sausage, and other products. It serves customers via own showrooms, supermarkets, and convenience stores in Vietnam, as well as exports its products internationally.
Earlier this month, the HCMC-based company said it was looking for up to three strategic investors for a 14% stake.
It posted a revenue of VND4.65 trillion (US$208 million) last year. In Vietnam, an IPO and listing are two separate processes that can sometimes be years apart.