Hoa Phat Group to List in July

Hoa Phat Group will list shares on the Ho Chi Minh City Securities Trading Centre (HSTC) in July 2007, earlier than previously planned in its year-end schedule.

 

Hoa Phat plans to auction 22 million shares with value of VND220 billion (US$13.75 million) in May to raise funds, enhancing the company’s finance capability to deploy big projects such as the Ha Nam Province cement factory, the high-grade office building, and investments in industrial parks and urban areas in Hanoi. However, the majority of the shares will be sold to the strategic shareholders, including investment funds and banks, and some will be sold to the public.

 

Hoa Phat has hired the Bao Viet Securities Company as its listing adviser.