Petrosetco makes IPO

As many as 933 investors have put their names down to join the share auction of PetroVietnam Tourism & Services Co (Petrosetco), which will take place at both the HCM City and Hanoi securities trading centres tomorrow.
They demand almost 49 million shares in total, much more than the 11 million shares that Petrosetco wants to sell in this initial public offering. The price will start from 10,000 dong per share, exactly the same as the par value.
Petrosetco will also sell 1.5 million shares to staff at discount, and once equitised, it will have chartered capital of 255 billion dong plus (US$16 million), with the state holding 51%, staff almost 6% and outsiders the rest.
It provides onshore and offshore catering services, exports coffee beans, supplies tapioca chips and yellow maize to local pet food manufacturers.

 

Category: Stocks