Vietnam raises only $2.3m from Vinalines' IPO, falls way short of tall target

The Vietnamese government has raised VND54.35 billion ($2.33 million) from selling a 34.8 per cent stake in Vietnam National Shipping Lines (Vinalines) in its initial public offering (IPO) on Hanoi Stock Exchange (HNX) on September 5, generating way lower than its lofty target of  $210 million.