Tech firms betting on public listing than being acquired.
By Nguyen Thi Bich Ngoc
Listing is taking place six years after its IPO.
D-Mart parent Avenue Supermarts, which recently concluded its Rs 1,870-crore initial public offering (IPO), will list its shares on bourses on Tuesday. The D-Mart IPO, the biggest since PNB Housing Finance’s Rs3,000 crore offer in October last year, was subscribed more than 104 times earlier this month. Last year, Advanced… Read more »
2017 appears to the year for state divestments and public issues in Vietnam. Among those stake sales, Saigon Trading Group, also known as SATRA, is said to go for an IPO in the second quarter, and petroleum trading major Petrolimex is contemplating a public listing in April. Saigon Trading Group… Read more »
While Vietnam has said it wants to push the privatisation of state-owned firms across sectors, latest announcements do not reflect the aggressiveness in selling big parts of stakes in major businesses, as no clear timeline has been given for the sale of companies like MobiFone and Binh Son Refinery and Petrochemical, nor a minor holding is determined for such businesses.
Of the 73 million shares Vietjet is offloading, a number of nearly 6.6 million, or over 2.6 per cent of its charter capital, were transferred to three investment funds, Wareham Group Limited, Dragon Capital and DC Developing Markets Strategies.