Saigon Railway Station sold over 7.21 million shares to 20 investors at its initial public offering (IPO) on December 7, equal to 14.33 per cent of its charter capital.

VietinBank Securities, one of two organizers of the IPO, revealed that the 20 investors had registered to buy 7,834,500 shares; 8.7 per cent higher than that sold.

The average price of each share was VND10,016 ($0.44), with a high of VND18,000 ($0.8), while the starting price, and lowest price, was VND10,000 ($0.445).

The IPO therefore brought in VND72 billion ($3.2 million). Post-IPO the station will have charter capital of VND503.1 billion ($22.38 million), in which the State holds 60 per cent, employees 11.34 per cent, strategic investors 14.33 per cent, and other investors the remainder.

Saigon Railway Station, under Vietnam Railways (VNR), is one of the leading companies in Vietnam’s railway transport industry.

After the IPO the company will target revenue of VND3.9 trillion ($173.55 million) by 2020. After consulting on this IPO, VietinBank Securities will also be the consultant for the equitization of Hanoi Railway Station and other VNR subsidiaries.