Viet Nam Pharmaceutical Corporation (Vinapharm) has obtained approval from Ha Noi Stock Exchange (HNX) to trade 237 million shares on the Unlisted Public Company Market (UPCoM), under stock code DVN.

Vinapharm will start trading on the UPCoM on May 19, 2017, at a starting price of VND10,400 (45 US cents) per share.

Vinapharm has charter capital of VND2.37 trillion and launched its initial public offering (IPO) on the HNX on June 22 last year. All of its 42,557,000 shares put up on auction were purchased at an average successful bidding price of VND10,433 per share.

Vinapharm has been officially operating as a joint-stock company since last December. Currently, this pharmaceutical company has two major shareholders holding a total of 82 per cent of charter capital, of which the Ministry of Health owns 65 per cent and strategic investor Viet Phuong Investment Group owns 17 per cent.

From the end of 2016, on the Over the Counter (OTC) market, DVN shares were being traded at some VND20,000 per share. — VNS