HANOI: The Việt Nam Forest Corporate (Vinafor) earned VNĐ246.2 billion (US$11.03 million) from sales of more than 24.3 million shares at an initial public offering on April 21. The auction attracted 27 individuals and two institutions. Bid volume reached 12,250,000 shares, and the highest bid price was 17,200 VND per share, the auction organiser Hà Nội Stock Exchange said. The average sale price was 10,114 VND per share, 114 đồng higher than the opening price.
According to the company’s equitisation plan, Vinafor will have charter capital of VND3.5 trillion, corresponding to 350 million shares. The State still holds a 51 per cent stake, strategic investors hold 140 million shares, or 40 per cent of charter capital, while other investors and staff employees hold the rest. Vinafor chose multi-industry investment firm T&T Group as its strategic shareholder.
