Vietnam Enterprise Investment and Development to launch IPO
Vietnam Enterprise Investment and Development to launch IPO
The Vietnam Enterprise Investment and Development Joint Stock Company (VNDI) will be listed on the Ha Noi Stock Exchange and begin trading on May 20.
The company will trade a total volume of 10 million shares with a par value of VND10,000 each, said company officials at a press briefing on May 16.
The stock will be coded as FID and the shares will be equivalent to VND100 billion ($4.65 million) in par value.
VNDI was established in 2010, mainly operating in the fields of construction, real estate services and business trademark development.
The company's net total revenues were VND36.8 billion ($1.7 million) in the first quarter of this year, doubling last year's figure. It also recorded an after tax profit of VND5.7 billion during the period, up 8 per cent, in comparison with the same period last year.
At the press briefing, Chief Executive Officer of VNDI Bui Dinh Nhu said business trademark development was the sector that brought in the largest profits to the company, focusing on consultancy, business restructurings, and merger and acquisitions (M&A).
He further said the company targeted taking over one or two enterprises with high possibilities to develop in the fields of agricultural materials and oriental medicines.
