Four investors purchase all Ben Thanh Tourist shares at IPO

All 5.93 million shares offered by Ben Thanh Tourist Company in its Initial Public Offering (IPO) yesterday were sold out to four investors at the average price of VND21,482 per share, double the starting price, in Ho Chi Minh City Stock Exchange (Hose).

According to Hose, a total of 48 investors had registered to buy 50.5 million shares, 8.5 fold the offered volume. Only four of them including two individuals and two organizations won the auction at the price of VND21,000-21,500 per share. Total earning from the IPO is VND127.4 billion (US$5.97 million).

Ben Thanh Tourist is a member of Ben Thanh Corporation. The share volume offered in the IPO accounts for 23.7 percent of Ben Thanh Tourist's expected chartered capital, equivalent to VND250 billion (US$11.71 million).

The company will continue selling another 23.73 percent of its shares to two strategic partners including Phan Thanh Trading and Service Company and Vietcomreal Joint Stock Company.

The Government will hold 49 percent of Ben Thanh Tourist shares after equitization.

By Nhung Nguyen – Translated by Hai Mien

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