The staff of Cam Ranh Port launched new year activities in 2012. The company sold only 9.5 per cent shares during its IPO on March 16. — Photo camranhport.vn

HA NOI (Biz Hub) — Cam Ranh Port Co. Ltd. sold 582,000 shares, or only 9.5 per cent shares during its initial public offering (IPO) organised at the Ha Noi Stock Exchange on March 16.

The local press said 50 individual investors had bought the shares at an average winning bid of VND10,172 (US$0.48) per share. The company earned more than VND5.9 billion ($280,952) through the transactions.

It had announced recently on its website that it will auction about six million shares during this IPO, and its total charter capital was expected to reach roughly VND264.52 billion ($12.60 million) after the privatisation.

The six million shares would account for 23 per cent of this equity, and a similar stake would be sold to strategic investors.

Cam Ranh Port's parent company, Viet Nam National Shipping Lines, would represent the State's stake of 51 per cent, while 2.98 per cent would be reserved for employees.

Cam Ranh Port is based in the central province of Khanh Hoa and specialises in seaport services, such as onshore transport, vessel repair and fuel trade, along with goods loading and storage for hire. — VNS