The Viet Nam General of Agriculture Material Corporation Limited (Vigecam) plans to offer over 6.3 million shares in its IPO on July 19. — Photo cafef.vn

The Viet Nam General of Agriculture Material Corporation Limited (Vigecam) plans to offer over 6.3 million shares in its IPO on July 19.

The company will offer its shares at the starting price of VND10,100 (44 US cents) per share.

The IPO is a part of the company’s equitisation plan, which is expected to increase Vigecam’s chartered capital to VND220 billion.

Beside the 6.3 million shares to be sold in the IPO, 15.4 million shares or 70 per cent of capital will be sold to strategic investors and the rest of total shares will be sold to employees and the labour union.

After the equitisation, the State will no longer be a shareholder of the company.

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

The company imports and supplies agricultural materials, including fertiliser, tea, domestic agricultural products and machinery for agricultural production.

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. — VNS