HCM Stock Exchange has announced the results of registration for the shares auction of Viet Nam Southern Food Corporation (Vinafood 2).

Up to 114,831,000 shares will be put up for sale for the first time in the run-up to the initial public offering (IPO), at a starting price of VND10,100 (44 US cents) per share. The IPO is scheduled to take place at 9am on March 14.

Forty one investors registered to take part in the auction, including 31 domestic investors and 10 foreign investors.

The total registered volume was 115,603,300 shares, of which 115,096,500 shares were from domestic investors.

According to the equitisation plan of Vinafood 2, the charter capital after equitisation will be VND5 trillion, of which the State will hold 255 million shares, representing 51 per cent of the charter capital.

The number of shares offered in the IPO is over 114.8 million, representing 22.97 per cent of the charter capital. Nearly five million shares will be sold to employees, equivalent to 0.99 per cent of the charter capital. The stake sold to the trade union organisation at the enterprise is 200,000 shares, representing 0.04 per cent of the charter capital. — VNS