PV Gas sells nearly 61 million shares in IPO
The PetroVietnam Gas Corporation (PV Gas) sold 60.97 million shares worth VND 1.89 trillion ($90 million) in its initial public offering (IPO) in the November 17 session of the Ho Chi Minh Stock Exchange (HOSE).
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The highest bidding price was VND55,000 and the lowest was VND31,000.
The volume was much lower than the nearly 95 million shares it had planned to auction in the IPO to raise about $97 million (5 per cent of its charter capital).
This was the largest ever IPO in Vietnam with 27 securities companies registering as auction agencies at 82 sites across the country.
PV Gas has the largest charter capital of all equatised companies, VND18.95 trillion, and its shares will be listed on HOSE in the first quarter of 2011.
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