Vietnam government raises $51m from Vinafood 2's IPO

Vietnam government raises $51m from Vinafood 2's IPO

The Vietnamese government has raised VND1.16 trillion ($51 million) from selling a 23 per cent stake in Vietnam Southern Food Corporation (Vinafood 2) in its initial public offering (IPO) in Ho Chi Minh City Stock Exchange on March 14.

The auction attracted 41 investors, including 40 individual investors and one organization, to buy 114.83 million shares on the offer for sale. The highest bid value reached VND12,000 ($0.53) per share. The proceeds were in line with the government’s expectation.

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