Vietnam National Shipping Lines (Vinalines) will conduct its initial public offering (IPO) to divest 488.818 million shares via a bid with the starting price of VND10,000 per share. The auction is expected to be organised on September 5.
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Vinalines will launch its IPO on September 5 |
Pursuant to Decision No.751/QD-TTg dated June 20, 2018 by the prime minister approving the plan on the equitisation of the parent company, Vietnam National Shipping Lines (Vinalines);
As well as Decision No.1659/QD-BGTVT dated August 3, 2018 approving the results of the selection of strategic shareholders and the amendment of the number of shares put up for initial public offering of the parent company (Vinalines);
And the Shares Auction Regulation for the parent company (Vinalines) dated August 7, 2018 issued by Hanoi Stock Exchange.
1. General information of the equitised company:
- Name: Vietnam National Shipping Lines-One member limited company;
- Address: Ocean Park building, 1 Dao Duy Anh, Phuong Mai ward, Dong Da District, Hanoi.
2. Expected charter capital after equitisation:
- VND14.04 trillion ($621.23 million), equalling 1.404 billion shares (calculated as per face value).
3. Location:
- State ownership: 912.993 million shares;
- Offered shares for staff and employees: 2.293 million shares;
- Offered shares for staff based on the number of years working in the public sector: 1.599 million shares;
- Offered shares for staff based on number of years working for the joint stock company: 694,900 shares;
- Offered shares for the Union: 500,000 shares;
- Shares put up for IPO: 488.818 million shares.
4. Starting bid price: VND10,000 per share.
5. Address and name of the auction organisation:
- Organisation: Hanoi Stock Exchange;
- Address: 2 Phan Chu Trinh, Hoan Kiem, Hanoi.
6. Conditions for participation: Institutions and individuals who meet the standards stated in the Shares Auction Regulation of the Hanoi Stock Exchange on August 7, 2018.
7. Date and location to receive bid forms:
- Date: from 8 AM, August 8, 2018 to 3.30 PM, August 28, 2018 (working hours);
- Location: public auction agents, as stated in Shares Auction Regulation of the Hanoi Stock Exchange on August 7, 2018.
8. Date and location to submit bid forms and deposits:
- Date: from 8 AM, August 8 to 3.30 PM, August 28, 2018 (working hours);
- Location: public auction agents as stated in Shares Auction Regulation of the Hanoi Stock Exchange on August 7, 2018.
9. Date and location to submit attendance forms:
- Date: Until 4 PM on August 31, 2018;
- Location: public auction agents as stated in Shares Auction Regulation of the Hanoi Stock Exchange on August 7, 2018.
10. Date and location of the auction:
- Date: 8.30 AM, September 5, 2018;
- Location: Hanoi Stock Exchange, 2 Phan Chu Trinh, Hoan Kiem, Hanoi.
11. Date to return deposits to investors who do not win the auction: September 7-9, 2018.
12. Date for successful investors to pay for the shares: From September 6 to 4 PM, September 15, 2018.