Home / Knowledge / News / Textiles / Vietnamese textile company raises $6.9 mn in IPO
Vietnamese textile company raises $6.9 mn in IPO
22
Mar '16
Vietnam's state-controlled Gia Dinh Textile and Garment Company has sold more than 15 million shares, equivalent to a 24.28 per cent stake, for over VND155.8 billion ($6.89 million) in an initial public offering.

No foreign investors bid in the IPO that was oversubscribed nearly three times at Ho Chi Minh City Stock Exchange on Friday, Vietnamese newspapers have reported.

The Ho Chi Minh City-based company, also known as GIDITEXCO, is slated to sell another stake of 25 per cent to strategic partners and 1.72 per cent to its staff, so the state ownership will be reduced to 49 per cent, according to the plans.

With 14 subsidiaries and ventures, all operating in the textile and garment sector, the company accounts for more than half of Vietnam's garment exports to Japan, and nearly 45 per cent to the US.

It posted a post-tax profit of over VND2.6 billion ($115,000) at the end of the third quarter last year, down nearly 42 per cent year on year, according to the company's latest financial statement. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

UK, EU agree to take more time for Brexit deal

Textiles | On 19th Oct 2018

UK, EU agree to take more time for Brexit deal

After an ongoing Brexit summit produced no tangible results, European ...

Courtesy: Pexels

Textiles | On 19th Oct 2018

US announces intent for trade deals with Japan, EU, UK

US Trade Representative Robert Lighthizer recently notified the...

Courtesy: Turtle Limited

Fashion | On 19th Oct 2018

'We are trying to imbibe multi-utility factor in menswear'

Turtle Limited, a leading Indian brand in menswear fashion, is trying ...

Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search