Vinacco sells 1.47 million shares in IPO

Tuesday, Oct 14, 2014 15:03

Vinacco sells nearly 1.5 million shares offered in its IPO on October 14.— Photo VNS
HA NOI (Biz Hub) — The Rural Agriculture Development and Construction Corporation (Vinacco) sold 1.47 million shares, or more than 55 per cent of the total, in its initial public offering (IPO) on October 14.

The corporation offered 2.64 million shares, equivalent to 34.75 per cent of its charter capital after equitisation, at an initial price of VND10,051 (US$0.47) per share in the auction held by the Hanoi Stock Exchange.

After the auction, four domestic individual investors bought the shares for VND14.7 billion ($700,000).

According the organiser of the auction, the period of payment is from October 15 to October 24.

Vinacco's main areas of business include different types of construction, labour supply and management, and vocational education, as well as the real estate in Viet Nam and Laos. — VNS

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