Vietnam targets raising $240m from IPO of pay-TV player VTVCab

Source of image: VTVcab

Vietnam government has decided to pare its 47.8 per cent stake in one of the country’s largest pay-TV players, VTVcab, a unit of state-owned broadcasting agency Vietnam Television (VTV), in its initial public offering (IPO) slated for April 17.

According to an announcement from Hanoi Stock Exchange, the government will offload 42.29 million shares in the auction. At a starting price of VND140,900 ($6.23) per share, valuating the company at VND12.4 trillion ($544.3 million), the government aims to raise at least VND6 trillion ($240 million) from the IPO.

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