Binh Son Refining and Petrochemical Company (BSR) will trade shares on the Unlisted Public Company Market (UPCoM) with code BSR on March 1.

The Ha Noi Stock Exchange said in a statement that BSR will start trading more than 241.4 million shares at VND22,400 per share and its trading band is 40 per cent on both side of the reference price.

BSR on January 17 launched its initial public offering (IPO) to sell more than 241.5 million shares or 7.79 per cent of the company’s charter capital at the starting price of VND14,600 per share.

The IPO attracted more than 4,000 investors, placing bids for nearly 652 million shares – 2.7 times the number of shares offered for the IPO.

BSR earned $244 million from the IPO at the average selling price of VND23,043 per share. The company will sell 49 per cent of its charter capital to the strategic investor and 6.5 million shares to its employees at the preferential price level.

The State will reduce its ownership in BSR to 43 per cent from the previous 100 per cent. The company earned VND5.43 trillion in the first nine months of 2017. — VNS