The average successful bidding price was VND12,908 (US$0.57) apiece.
Hapro raised US$43 million in IPO on March 30.
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On March 28, 346 investors registered to purchase 93.2 million Hapro`s shares, 23% higher than the share amount available.
Under the equitization plan approved by Deputy Prime Minister Vuong Dinh Hue last December, Hapro has a charter capital of VND2.2 trillion (US$96.8 million). After the IPO, the Hanoi People's Committee, the representative of the State capital in the company, will no longer hold any shares in the firm.
Additionally, Hapro will sell over 1 million shares to its employees, accounting for 0.49% of its charter capital, and another 143 million shares (65%) to strategic investors.
N.A Vietnam Motor (Vinamco), a subsidiary of BRG Group, has been approved by the Hanoi People's Committee to become the strategic investor of Hapro on January 26. Thus, Vinamco is expected to purchase 65% of Hapro's shares with price not lower than the lowest successful bid at the IPO, that is, a minimum of VND1.83 trillion (US$80.5 million).
With more than 40 subsidiaries under its belt, Hapro operates a chain of supermarkets and convenience stores and owns many land plots and properties at prime locations in the country.
The company will be the first owned by Hanoi People's Committee to initiate equitization.
Hapro's total revenue in 2017 reached VND4.4 trillion (US$193.6 million) with pre-tax profit of VND76.9 billion (US$3.4 million), up 8% compared to 2016, announced the firm at its annual meeting on March 7.
Notably, the company's domestic revenue was reported at VND2.3 trillion (US$101 million), accounting for 53% of the total revenue and 95% of the revenue in 2016.
Hapro set the 2018 target revenue at VND5.07 trillion (US$222.5 million), up 14% on-year. Consequently, export turnover is expected to reach US$117 million, increasing 29% compared to 2017, taking its pre-tax profit to VND80 billion (US$3.5 million), an increase of 5% over last year.
