HANOI (Reuters) -Vietnam’s VPS Securities, the country’s largest securities firm by market share, will seek approval from shareholders on Monday for an initial public offering of 202.3 million shares, a company document confirmed by two company sources showed.
The IPO is slated for the fourth quarter of this year or the first quarter of next year, according to the document reviewed by Reuters, which showed shareholders are set to vote on the plan at a meeting on Monday, with the price yet to be decided.
One of the sources said the company was considering a price range of 60,000-70,000 dong per share. That would potentially put the value of the IPO at 12.14 trillion-14.16 trillion dong ($459.8 million-$536.3 million), making it one of Vietnam’s largest IPOs in recent years.
The announcement comes as the Southeast Asian country’s IPO market is heating up and signals continued investor appetite in Vietnam’s capital markets.
Last week, brokerage Techcom Securities, a unit of private lender Techcombank (TCB.HM), raised $410 million, valuing the company around $4 billion.
The shares are planned for listing on the Ho Chi Minh Stock Exchange, according to the document.
($1 = 26,402 dong)
(Reporting by Khanh Vu; Editing by Clarence Fernandez and Jacqueline Wong)
