Viet Nam General of Agriculture Material Corporation Limited (Vigecam) plans to offer over 6.3 million shares in its IPO on July 19, with the starting price of VND10,100 (44 US cents) per share.

Vigecam, founded in 1960, is one of the largest providers of agricultural materials in Viet Nam.

The company imports and supplies agricultural materials such as fertiliser, tea, domestic agricultural products and machinery for agricultural production. Two major products of Vigecam are fertiliser (accounting for about 50 per cent of the total annual turnover) and tea (about 30 per cent of the turnover).

Every year, the corporation distributes a vast quantity of chemical fertilisers and other specialised agricultural materials for seasonal crops to help increase the country’s level of food production.

After equitisation, Vigecam expects to reach a charter capital of VND220 billion. — VNS