On March 27, 2006, an auction of shares was held of leather shoes and garment export company – Legamex at HCMC Stock Exchange Centre.
About 1,112,600 shares were transacted worth VND 14.04 billion (equivalent to $ 888,000).
During the auction, 42 investors of all types attended to order 2.57 million shares, marking 2 times over subscription than the company's offers.
The highest order price reached at VND 29,000 ($1.8) per share – nearly 3 times higher than the company's starting price (VND 10,100 or $ 0.63 per share).
Legamex is one of the most well-known textiles and garment companies of Vietnam, and about 80 percent of the company's revenue is earned by exports to Japan, EU, ASEAN countries, Russia and the US.
The company's 2006 plan targets a VND 160 billion ($ 1 million) turnover, and VND 5.33 billion ($ 333,000) of after-tax-profits, with dividend of 6.48 percent.
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