Hanoi Times – Viet Fund Management (VFM) began sale on December 22 of its new stock, giving investors more chances to make it big in the country’s booming securities market.
As its name reveals, this close-ended Blue-chips Fund targets leading companies in key industries like banking, telecommunications and real estate, among others, according to Tran Thanh Tan, BFM General Director.”
Tan said equitization of major State-owned enterprises in areas including aviation, banking and telecommunications is providing a once-in-a-lifetime opportunity.
With a charter capital of VND 8 trillion (US$ 500 million), the fund plans to raise VND 1 trillion in its first round, equal to 100 million units. Each share has a face value of VND 10,000. The price is set at VND 10,200.
After closing on January 25, VFM will apply for the necessary licenses for its 10-year term fund from the State Securities Commission before making an appearance on the HCM City Stock Exchange.
Tan said overseas Vietnamese in Eastern Europe have already committed to VND 300 billion worth.
