Vietnam Rubber Group plans to raise $563 million in share sale

October 25, 2017

rubberState-run Vietnam Rubber Group (VRG) has approved a plan to sell 25 % of the company in an initial public offering, worth an estimated 12.8 billion dong (US$563 million).

The sale is part of Vietnam’s plans to trim stakes in state-owned enterprises, which picked up pace after a new government took office last year. The government aims to sell holdings in 135 state-owned companies in 2017, it said in late August.

VRG plans to sell 11.88 % of the company to the public and another 11.88 % to a strategic investor, according to its share sale plan published on the company’s website. The group has not chosen a strategic investor yet.

The company also plans to sell 1.21 and 0.03 % to its employees and trade union, respectively. Vietnam’s government would own the remaining 75 % of the shares.

 

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International Rubber Prices
(as of 14, November 2017)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals


Source: India Rubber Board

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