BSR shares snapped up at IPO

20-Jan-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

Many investors scrambled to snap up shares of Binh Son Refining and Petrochemical Company Limited (BSR) at high prices in the firm’s initial public offering (IPO) on the Hochiminh Stock Exchange on January 17.

Particularly, an investor bought 10,000 shares at VND14.8 million (US$652) each at the IPO auction, 1,000 times higher than the reserve price of VND14,600 per share.

Besides, 10,000 shares were purchased at VND35,000 each and 105,000 shares purchased at VND30,100 each. A large amount of shares was purchased at VND20,000-25,000 each.

However, investors that bought millions of shares paid around VND20,000 each.

On average, BSR shares were sold at VND23,043 each. There were 62 institutional and 561 individual investors acquiring more than 241.5 million shares, representing 7.79 percent of the oil refinery’s chartered capital, with proceeds totalling VND5,566 billion (more than $245 million).

Foreign investors took more than 147.8 million BSR shares.

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Category: Stocks

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