Investco Corp licensed for maiden IPO

The State Securities Commission (SSC) on September 14 approved the public share offering of HCM City Investment and Construction Corp (Investco Corp).

With a chartered capital of 75 billion dong, the construction firm will sell 7.5 million ordinary shares to the public. Among 6.185 million shares being offered for the first phase, 472,500 shares will be paid for dividend in shares to shareholders, 437,500 bonus shares offered to shareholders, 375,000 shares will be issued to the firm’s key employees at a preferential price, 2.5 million shares to existing shareholders at a ratio of one share for three shares held and 2.4 million shares offered to strategic investors. The phase will last 90 days as of receiving SSC’s permission.

Key employees will have the right to buy 684,250 shares in the second phase and 630,750 shares in the third phase.

 

Category: Stocks