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Hai Phong Leather Products and Footwear IPOs successfully

Released at: 16:27, 27/01/2015

Hai Phong Leather Products and Footwear IPOs successfully

Sale brings charter capital to VND75 billion ($3.57 million).

by Hung Nguyen

The Hai Phong Leather Products and Footwear Co. received VND35 billion ($1.66 million) from its recent initial public offering (IPO), selling 3.4 million shares at a starting price at VND10,300 ($0.49) each, according to the Hanoi Stock Exchange (HNX).

Thirteen individual investors participated in the IPO, buying 3.8 million shares. The average price was VND10,302 ($0.49).

The highest price secured was VND10,800 ($0.51) per share, with the highest order volume standing at more than 2 million shares, accounting for 58.8 per cent of the total.

The company now VND75 billion ($3.57 million) in charter capital, with the State no longer holding a share.

Its business activities include leather production, shoe design, and other activities relating to leather products.

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