Vinatex delays domestic IPO to September


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Vinatex delays domestic IPO to September


Vietnam National Textile and Garment Group (Vinatex), Vietnam's top textile manufacturer, said on Monday it will delay for two months its initial public offering originally scheduled for next week to give investors more time to assess the company's performance.
The decision was made after Hanoi-based Vinatex held two roadshows this month, the state-run company said in a statement, adding the delay has been approved by the government.
The IPO of Hanoi-based Vinatex was initially set for July 22. It is widely seen as one of the more attractive in the communist country, where the government is reforming a largely inefficient state sector that accounts for about half of the country's debt.
Vinatex has said it will take up to three years to list its shares on the stock market after the IPO.

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