Vinatex giant buyers unveiled

September 13, 2014 | 10:43

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According to a source from the Vietnam National Textile and Garment Group, two strategic investors just registered to buy up to 120 million shares, tantamount to 24 per cent of the state textile and garment giant.

The source revealed that the two investors are local firms, Vietnam Investment Development Group JSC (VID), a leading industrial zone developer, registered to buy 14 per cent or 70 million shares and Vingroup, a leading property and retail developer, registered to buy a 10 per cent stake, or 50 million shares.

Vinatex’s IPO is planned for September 22 at the Ho Chi Minh Stock Exchange (HoSE).

The Vinatex IPO is one of the most anticipated this month by investors amid a much faster restructuring drive by the government and a resultant flurry of mergers and acquisitions.

Vinatex’s public offering has been delayed a number of times, it had previously planned to hold the issue on July 22, but it was again pushed to this month to ensure the company was fully prepared for the transition.

By By The Hai

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