PM gives go ahead, with a total of 237 million shares to be issued.
The Vietnam Pharmaceutial Corporation (Vinapharm) has secured approval from the Prime Minister to conduct an initial public offering (IPO). The State will retain a majority shareholding.
Vinapharm’s charter capital stands at VND2.3 trillion ($102.21 million), with 237 million shares to be issued with a par value of VND10,000 ($0.44). The State will retain some 154 million shares, or 65 per cent of the total, with 103,000 shares to be sold to company staff at preferential prices, or 0.04 per cent of charter capital. Some 40 million shares will be sold to strategic shareholders, or 17 per cent of charter capital, and some 42 million shares will be sold publicly to domestic investors, or 17.95 per cent of charter capital.
The PM has assigned the Minister of Health to take responsibility for determining the offering price, based on the company’s actual circumstances.
The IPO will be conducted via auction.