Vietnam’s meat producer Vissan to release 14 pct stake in March IPO

By Mai Phuong, Thanh Nien News

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Customers shop for fresh meat at a Vissan store in Ho Chi Minh City. Photo: Hoang Viet Customers shop for fresh meat at a Vissan store in Ho Chi Minh City. Photo: Hoang Viet

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Top Vietnamese meat processor Vissan has announced that it will have an initial public offering at the Ho Chi Minh City Stock Exchange on March 7.
The firm, officially known as Vietnam Meat Industries Limited Company, has set a starting price of VND17,000 (US$0.76) per share for the IPO.
It will offer 11.33 million shares, equivalent to 14 percent of its registered capital, to both local and foreign investors. 
Both Vissan and its parent trading company Satra are partly owned by the sate. 
Vissan offers fresh pork, beef, chicken, ham, sausage, and other products. It serves customers via own showrooms, supermarkets, and convenience stores in Vietnam, as well as exports its products internationally.
Earlier this month, the HCMC-based company said it was looking for up to three strategic investors for a 14 percent stake.
It posted a revenue of VND4.65 trillion ($208 million) last year.
In Vietnam, an IPO and listing are two separate processes that can sometimes be years apart.

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