Friday, November 10, 2006

3 IPOs in the energy and chemicals sectors

Vietnam Petroleum Transport Company (Vipco), Tan Tien Plastic Packaging Co (Tapack) and Dry Cell and Storage Battery Co (Pinaco) had been licensed to list at HCMC stock exchange.

The three are among 30 companies seeking a listing license or preparing a share debut on the Ho Chi Minh City Securities Trading Center by the end of the year to get tax relief for listed firms before it ends on Jan. 1, 2007.

Tapack, a maker of plastic packaging material, will list all its 10,655,000 shares. They were priced at $3.39 each on the unofficial market, valuing the firm at $36 million.

Pinaco, a producer of various kinds of battery, is allowed to list 10,263,000 shares and is valued at $18.5 million based on its unofficial market share price of $1.8 each.

While the value of the petroleum transport firm Vipco was not immediately available, the subsidiary of Petrolimex based in the northern port city of Haiphong will list all its 35,100,000 shares.

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