SASCO IPO sale exceeds 31 million shares

Thursday, Sep 18, 2014 17:07

Free duty shops at Tan Son Nhat International Airport managed by the Southern Airports Services Company Limited (SASCO). The company has sold more than 31 million shares in its IPO at the HCM City Stock Exchange. — Photo

HCM CITY (Biz Hub) — The Southern Airports Services Company Limited (SASCO) sold more than 31 million shares at its initial public offering (IPO) at the HCM City Stock Exchange on September 18.

SASCO, which has VND1,315 billion (US$62.6 million) in charter capital, auctioned 31,097,900 shares, representing a 23.65-per cent stake in its charter capital, at the bourse at an initial price of VND10,000 ($0.47) per share.

A total of 12 local investors won the bidding, and the shares were sold at an average price of VND19,330 ($0.92) each. The total value of shares in the SASCO IPO was estimated to be more than VND601 billion ($28.6 million).

The IPO was carried out under the Government policy of equitising state-owned enterprises. Founded in 1993, SASCO has been operating multiple business lines with various services and activities at Tan Son Nhat international airport and has expanded to outside markets through its subsidiaries and branches.

Meanwhile, the HCM Stock Exchange will hold an auction for Vietnam National Textile and Garment Group (VINATEX) on September 22, with a total of 121,999,150 shares at stake. Investors have so far registered to purchase 110,558,200 shares. — VNS

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