State-owned company the Vietnam National Vegetable, Fruit and Agricultural Product Corporation (Vegetexco) listed on the Hanoi stock exchange with six investors purchasing 39 per cent of the company’s shares.
Vegetexco’s IPO valued the shares at VND278bn (US$12.4m), with the remaining shares to be sold to T&T Group (35 per cent), Sai Gon-Ha Noi Insurance Corporation (15 per cent) and Vegetexco (10 per cent), with the company’s employees to take a 1 per cent share, according to Vietnam News.
The listing places the importer-exporter of fresh and processed fruits and vegetables at VND731bn (US$32.5m), with a reported 17 per cent increase in net profit to VND19.6bn in the first six months of this year.
