VEAM to list 1.33 billion shares on HSXVietnam Engine and Agricultural Machinery Corporation (VEAM), which currently holds a 30 per cent stake in Honda Vietnam, a 20 per cent stake in Toyota Vietnam, and a 25 per cent stake in Ford Vietnam, will list 1.328 billion shares on the Ho Chi Minh City Stock Exchange (HSX). Previously, in November 2017, the firm received the securities registration certificate from Vietnam Securities Depository (VSD) to list 1.328 billion shares. Being considered the largest IPO of the year, it expected that after the sale VEAM’s charter capital will increase to VND13.28 trillion ($595.5 million), equalling 1.33 billion shares. Accordingly, the state will hold 51 per cent of the charter capital with 678 million shares, and strategic shareholders will hold 36 per cent, equalling 478 million shares. In addition, the company currently holds a 30 per cent stake in Honda Vietnam, a 20 per cent stake in Toyota Vietnam, and a 25 per cent stake in Ford Vietnam, which bring massive profits.

Source: VietNamNet News March 21, 2018 09:45 UTC