The Khanh Hoa Sanest Beverage Company will make its first public offering (IPO) of nearly eight million shares at the initial price of VND23,000 (US$1) on September 11, according to the HCM Stock Exchange.

If the IPO succeeds, the company’s charter capital will be VND330 billion.

The company specialises in the production of processed milk and dairy products; non-alcoholic beverages and mineral water, along with selling retail and wholesale beverages and food products.

The company is among five subsidiaries of the Khanh Hoa Salangane Nests Company, with initial charter capital of VND220 billion on the launch day of January 28, 2016.

The company last year posted revenue of VND535 billion, accounting for 62 per cent of Khanh Hoa Salangane Nests Company’s total revenue.

Besides exporting products to the United States, mainland China, Taiwan, Hong Kong, Khanh Hoa Salangane Nests Company has also set up branches in other ASEAN countries. — VNS