Great day for pharmaceuticals

September 09, 2015 | 17:00

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On September 9 La Compagnie Du Pharmacetique (Codupha) and Central Pharmaceutical Company No.1 (CPC1), two subsidiaries of Vietnam Pharmaceutical Corporation, have conducted a successful initial public offering.

All of the 2.7 million shares offered by Codupha were sold out with the highest price recorded at VND50,000 ($2.2) apiece, five times higher than the initial bidding price. As many as 6.2 million shares were ordered by 30 bidders.

The total auctioned value was roughly VND35 billion ($1.54 million), equal to 14.67 per cent of Codupha’s expected chartered capital. While foreign investors stayed their hands, 11 individuals and three institutions came out as the winners of the bid.

Likewise, CPC1 collected over VND31 billion ($1.36 million) through the IPO, with more than three million shares offered, representing 14.37 per cent of the chartered capital.

The highest auction price was VND18,100 ($0.8). 23 buyers, including 20 individuals and three institutions registered to buy altogether 6.7 million shares – 2.2 times higher than the amount on offer. All of these investors have reportedly won the bid.

Codupha will soon list its shares on the southern Ho Chi Minh Stock Exchange and CPC1 on the northern Hanoi Stock Exchange.

By By Thanh Xuan

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