National Focus
Government expects to gain nearly one trillion dong from Hapro’s IPO
The Government has decided to divest all of its 34.51 per cent stake in Hanoi Trade Corporation (Hapro) in the initial public offering (IPO) on this March 30.

According to the announcement of Hanoi Stock Exchange, the Government of Vietnam would sell nearly 76 million shares in this auction with the starting price of VND12,800 (roughly US$0.56) per share. The Government expects to gain at least VND972.8 billion (US$42.56 million) from this IPO.
According to the equitisation plan approved by Deputy Prime Minister Vuong Dinh Hue, Hapro has the chartered capital of VND2,200 billion (roughly US$96.98 million) which is equivalent to the value of 200 million outstanding shares.
Regarding the charter capital structure, the State does not hold shares. The number of preference shares sold to employees in the enterprise would be 1.07 million shares, representing 0.49 per cent of charter capital.
The company would sell 75.93 million shares accounting for 34.51 per cent of charter capital in the public auction while 143 million shares accounting for 65 per cent of charter capital would be sold to strategic investors. After the IPO, the State would no longer hold shares in this company.
In 2017, Hapro's net revenue was VND1,927 billion (roughly US$84.95 million), decreasing by 17 per cent compared to the same period of the previous year while the pretax profit fell by eight per cent to VND11 billion (roughly US$484,902).
Since the beginning of this year, the Government of Vietnam has mobilized a total of US$832.03 million from IPOs of three subsidiaries of Vietnam Oil and Gas Group including PV Power, PV Oil and Binh Son Oil Refinery; Power Generation Corporation 3; Vietnam Rubber Group and the recent Vietnam Sugarcane and Sugar Corporation II (Vinasugar II).
The State to divest a 65 per cent stake out of nearly US$100 million in its equitization scheme of Hapro to strategic investors
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