A worker collects latex at a plantation owned by the Binh Duong province-based Dau Tieng Rubber Company, an affiliate of the Vietnam Rubber Group (Photo: VNA)
HCM City (VNA) — VietnamRubber Group (VRG) is expected to list its shares on the HCM Stock Exchange inJune or July after its initial public offering on February 2.
Pham Van Thanh, head of VRG’s planningand investment department, revealed the IPO road map at an event on January 18.
The corporation will auction 475million shares, equivalent to 11.88 percent of its total chartered capital of 40trillion VND (1.76 billion USD).
A similar number will be offered tostrategic investors with 831,000 shares earmarked for employees and the tradeunion.
The State will retain three billionshares or 75 percent of the capital after equitisation.
The minimum price for the auction hasbeen set at 13,000 VND.
A month after the IPO, VRG would liston UPCoM, and by June or July at the latest in HCM Stock Exchange, Thanh said.
Last year, the group achieved 3.6trillion VND in net profit on revenues of 19 trillion VND, easily achieving thetargets it had set at the beginning of last year.
The group’s core business is naturalrubber, which brings around 70 percent of its total revenues.
According to a Vietcombank Securities(VCBS) report, VRG enjoyed a good year in 2017 thanks to the strong globalrecovery in natural rubber prices.
VCBS has a positive outlook for thegroup in 2018 since the price of rubber will still remain high.
Besides, old rubber trees would be alarge source of income, the report said.
VCBS has recommended a reasonable priceof 16,660 VND for the share in the IPO. - VNA
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A worker collects latex at a plantation owned by the Binh Duong province-based Dau Tieng Rubber Company, an affiliate of the Vietnam Rubber Group (Photo: VNA) 
