Transport Hospital IPO raises $5.2m
Transport Hospital IPO raises $5.2m
The Central Transport Hospital yesterday received VND116.8 billion (US$5.2 million) after selling 4.95 million shares during its' initial public offering (IPO) at the Ha Noi Stock Exchange.
That number of shares was equal to 29.5 per cent of the hospitals chartered capital after it completed privatisation, which could be up to VND435.5 billion ($19.35 million) from VND168 billion ($7.5 million) this year.
The State will hold 73 per cent of the hospitals capital after the privatisation and will reduce its ownership in the hospital to 30 per cent in the future.
The hospital received the lowest price of VND10,000 and the highest of VND26,000 for its shares. Average price was VND23,597 per share.
Thirty-three investors participated in the IPO and offered to buy more than 11.7 million shares from the hospital, nearly 2.5 times the number of shares offered by the hospital. Five million shares were sold to one individual investor and one organisation.
Le Tuyen Hong Duong, the hospital's deputy director, said that the IPO was a good move as the hospital was trying to comply with the Government's policies on privatising state-owned businesses.
Customers would receive the same benefits and better products and services at the hospital after it completed being privatised, he said, adding that the successful IPO would motivate other state-owned businesses to speed up their transformation.
As a leading hospital in the transport sector with 60 years of experience, the Central Transport Hospital has 363 beds, providing healthcare services for 500,000 individuals and 11,000 inpatients each year.
