Vinatex fails to sell all shares in IPO

Vietnam’s state-run textile and clothing maker Vinatex fell short of selling all shares in its initial public offering (IPO), which took place on 23 September, underscoring the hurdles the government faces in successfully carrying out more than 400 planned partial privatisations, reports Reuters.

Vinatex had planned to sell nearly 122m shares, or 24.4% of its stake, at the IPO, in which 18 foreign investors had subscribed to buy just a combined 32,900 shares.

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