Vinatex extends IPO deadline by two months

15 Jul '14

1 min read

The Vietnam National Textile and Garment Group (Vinatex), has extended the final date for investment in its initial public offering (IPO) by two months so that investors get extra time to assess its performance, the company said in a statement.

Following the Prime Minister’s approval of equitization plan in June this year, Vinatex officially released its first public issue in the form of an IPO, and held two seminars on “Investment Opportunities in stocks of Vietnam Textile and Garment Group (Vinatex)” in Hanoi on July 2 and in Ho Chi Minh City on July 4.

After the two seminars, during the process of exchanging and receiving feedback from investors, it was understood that the auction time registration period was not enough for investors to understand, evaluate investments, as well as procedures for conducting investment decisions.

In order to give sufficient time to potential investors to find out various details and assess investment in Vinatex stocks, the Steering Committee of Vinatex and the Prime Minister have agreed to extend the auction time of IPO till September 30, 2014.

Accordingly, the new deadline for deposit would be September 12, 2014, and the auction date would be September 22, the company said in a statement.

Fibre2fashion News Desk - India

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