Taiwanese-owned granite tile and ceramic producer Taicera will sell 16.67% (5m shares) of its more than 30 million shares in total to the public.
More than 3.9 million shares will be sold to the public via auction with the floor price of VND25,000 ($1.56) per share.
The Dong Nai province-based Taicera will be the fifth foreign-invested enterprise to float its shares on the Ho Chi Minh City bourse after Taiwanese-invested firms Taya, Chang Yih, Full Power and Malaysia’s Interfood.
If the issuance is successful, Taicera’s chartered capital is expected to increase to more than VND300 billion ($18.75 million) from the current VND250bn ($15.62m). Proceeds from issuing shares will be used to repay for bank loan and to increase the working capital related to its investment plan on two new production lines in Dong Nai province’s Go Dau Industrial Park.
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