On 22nd June, An Phat Holdings (APH) has successfully auctioned 4.3 million shares on the Ho Chi Minh Stock Exchange (HoSE), raising VND 215,08 billion. With the average bidding price of VND 50.018 per share, APH is expected to be valued at over VND 6,600 billion.
Today, 4,3 million shares of An Phat Holdings (Ticker: APH) were successfully auctioned on its IPO to 13 individuals and 2 organizations. The successful auction price ranges from VND 48,900-52,800 per share. Order volume ranged from 500-3,000,000 shares.
With the average successful auction price of VND 50,018 per share (double the starting price of VND 25,000 per share), the total value of shares sold is over VND 215 billion. With this average winning price, APH is expected to be valued at more than 6,600 billion.
APH is determined to use all the raised amount of more than VND 215 billion to invest in the construction of the compostable material manufacturing plant. The construction of the plant is expected to start at the beginning of 2021 at Hai Phong, with an 18-month construction period, completed by 2022, with a capacity of 20.000 tons per year and an investment amount of nearly VND 1.500 billion. According to Mr. Pham Do Huy Cuong, Member of the Board of Directors and Standing Deputy General Director, the Covid-19 pandemic also affects the trend of using green, clean, and environmentally friendly products.
Mr. Cuong also said that due to Covid-19 outbreak, it might not the best time to launch IPO and listing stock, however, it is still a suitable time as there was high demand from investors. Following by, APH will issue more than 20 million shares to investors, of which 4.3 million shares will be issued through IPO, the rest (about 15.75 million shares) will be given to strategic investors.
After IPO, APH plans to hold a Roadshow in early July 2020 before officially listing shares at the end of July 2020. Reference price (when listed) will comply with HOSE’s regulations.
“An Phat Holdings’ IPO and listing on HoSE will improve its access to capital, raising capital, strengthening its capabilities to achieve long-term targets. With the right business strategies as well as business expansion in other potential sectors, especially with the construction plan of AnBio compostable material manufacturing plant, we hold a strong belief that in the next 5 years, An Phat Holdings will become the biggest bioplastics group in South East Asia,” said Mr. Pham Do Huy Cuong – Standing Deputy General Director & CFO of An Phat Holdings
In terms of business performance, APH is projected to achieve 50% of its plan after the first two quarters of 2020.
