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VN Airports Corporation raises over $49 mln in IPO, in search of strategic investor

 Airports Corporation of Vietnam (ACV) raised over 1.11 trillion VND or 49.6 million USD in its initial public offering (IPO) at the Ho Chi Minh Stock Exchange (HoSE) on December 10.

Airports Corporation of Vietnam (ACV) raised over 1.11 trillion VND or 49.6 million USD in its initial public offering (IPO) at the Ho Chi Minh Stock Exchange (HoSE) on December 10.


State-run airport operator raises over 49 mln USD in IPO. (Source:HoSE).

It is the 37th IPO and also the largest offering in the country this year.

The airport operator, one of the country’s biggest state-run firms, has the charter capital of around 22.4 trillion VND or 997.7 million USD.

Some 77.8 million stakes, or 3.47 percent of the capital, offered at the IPO price of 11,800 VND (0.5248 USD) each, had received more than 300 bids.

The entire amount was later sold to 152 investors at an average price of 14,334 VND (0.6375 USD) per share, with the lowest at 13,100 VND and the highest at 38,000 VND.

HoSE Chairman Tran Dac Sinh said the exchange held 81 IPOs since the beginning of 2014, including those of the Vietnam Vegetable Oils Industry Corporation (VOCARIMEX), Vietnam Aviation Corporation (Vietnam Airlines), Vietnam National Textile and Garment Group (VINATEX) and Saigon Port.

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