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IPO on horizon for Vinachimex

Released at: 19:08, 14/07/2015

IPO on horizon for Vinachimex

July 31 IPO to sells shares accounting for 36.3% of charter capital.

by Hung Nguyen

The Vietnam Chemical Import & Export Company (Vinachimex) will conduct its initial public offering (IPO) on July 31.

Shares offered at the IPO will account for 36.3 per cent its charter capital post-equitization.

Some 186,000 shares will be sold to the company’s employees and 2.8 million shares to investors and strategic investors.

State ownership was put at VND77.2 billion ($3.53 million) as at October 1, 2014.

Assets include 54,300 sq m of land in seven areas in Hanoi and Hai Phong.

Post-equitization company will use the funds raised to invest in a silicate factory, its chemicals and fertilizer business activities, and the building of office space for lease on its land plots.

In the 2015-2017 period the company has targeted revenue of VND420 billion - VND540 billion ($19.25 million - $24.75 million) and profit after tax of VND2.4 billion - VND5 billion ($110,040 - $229,250). The dividend payout ratio is targeted at 3 - 5 per cent.

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