Vietnam's Tan Tao Industrial Park Corporation will debut on the Ho Chi Minh City stock exchange on November 15, becoming the first industrial park operator to list. The firm will trade 45 million shares valued at VND450 billion (US$28 million).
In the short-term, the company plans to raise funds for construction of Tan Duc city, an industrial-residential complex covering 1,175 hectares in southern Long An province, at cost of VND5 trillion ($320 million).
Under the plan, Tan Duc city would be home to the 540ha industrial park and other service facilities for banking, insurance, heath-care, training and warehousing.
Itaco has been operating the Tan Tao industrial park in Ho Chi Minh City since 1997. The park houses around 220 projects invested by both foreign and domestic companies with combined capital of $122 million and VND5.2 trillion ($322 million) respectively. The company has leased out all initially available land.
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