The Vietnam Exhibition Fair Centre Co Ltd (VEFAC) will auction nearly16.27 million shares during its initial public offering (IPO) on March20, the Hanoi Stock Exchange has announced.
VEFAC's total equityis expected to surge from 166.6 billion VND (7.93 million USD) to nearly1.67 trillion VND (79.52 million USD) after the equitisation.
Ofthe total equity, 90 percent will be offered to the public, with 80percent reserved for a strategic investor, possibly a leading propertydeveloper in Vietnam.
Within three years of its equitisation, thecompany will spend the current equity on business activities related toexhibitions and fairs. It also plans to use the additional amount fornew property investments.
The new investments are being projectedby the Government as part of a national exhibition and fair centre.They include building an "exhibition city" Nhat Tan–Noi Bai in Hanoi'sDong Anh district, and a 68,380-square-metre trade, services andcultural complex, named Giang Vo, in the Ba Dinh district.
MeTri, a trade, tourism and culture park will also be constructed in thesouth-west of the capital and will cover an area of about 126ha.
VEFACDeputy General Director Nguyen Danh Thuan stated on the company'swebsite that the firm is recruiting more employees to facilitate theimplementation of these projects.-VNA
VEFAC's total equityis expected to surge from 166.6 billion VND (7.93 million USD) to nearly1.67 trillion VND (79.52 million USD) after the equitisation.
Ofthe total equity, 90 percent will be offered to the public, with 80percent reserved for a strategic investor, possibly a leading propertydeveloper in Vietnam.
Within three years of its equitisation, thecompany will spend the current equity on business activities related toexhibitions and fairs. It also plans to use the additional amount fornew property investments.
The new investments are being projectedby the Government as part of a national exhibition and fair centre.They include building an "exhibition city" Nhat Tan–Noi Bai in Hanoi'sDong Anh district, and a 68,380-square-metre trade, services andcultural complex, named Giang Vo, in the Ba Dinh district.
MeTri, a trade, tourism and culture park will also be constructed in thesouth-west of the capital and will cover an area of about 126ha.
VEFACDeputy General Director Nguyen Danh Thuan stated on the company'swebsite that the firm is recruiting more employees to facilitate theimplementation of these projects.-VNA
