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Foreign investors not interested in Vietinbank’s IPO   2008-12-23 - VNE

3:00 pm of December 23 is the deadline for investors to bid for Vietinbank’s IPO slated for December 25. Foreign investors have registered to purchase 1.6% of total shares registered by investors.


VietinBank IPO set for Christmas day

Internal strength enough to bring success to Vietinbank’s IPO?


63 securities companies will act as auction agents who will receive orders from investors.

According to the HCM City Stock Exchange, by the end of December 19, the deadline for investors to apply to join the IPO, 12,982 investors had reportedly registered to join the IPO and placed orders to purchase 55,900,200 shares, or 4.29% more than the offered volume. Of the investors who registered to join the IPO, there are only 29 individuals and three institutional investors, who ordered 910,500 shares. Under the current regulations, foreign investors are allowed to purchase a maximum of 16,080,000 shares at the IPO.


12,950 domestic investors have registered to buy the remaining shares. Of these, 104 institutional investors have ordered 15,167,000 shares, while 12,846 individuals 39,822,700 shares.


3:00 pm of December 23 is the deadline for investors to bid. The IPO will take place on December 25 at the HCM City Stock Exchange.


Vietinbank is the second state-owned bank, after Vietcombank, to make IPO to sell stakes to the public. Vietinbank is only offering 4% of the chartered capital, or 53.6 million shares, for the IPO. The starting price for the IPO is VND 20,000/share, or double the face value.


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