HCM City (VNA) – Viet Fund Management (VFM) began sale on Dec. 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 equitisation 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 8 trillion VND (500 million USD), the fund plans to raise 1 trillion VND in its first round, equal to 100 million units. Each share has a face value of 10,000 VND. The price is set at 10,200 VND.
After closing on January 25, VFM will apply for the necessary licences 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 300 billion VND worth.-Enditem
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