Vietnam National Shipping Lines, better known as Vinalines, sold a mere 5.43 million shares, or only 1.11% of the shares offered at its initial public offering on the Hanoi Stock Exchange this morning.
The state-owned company netted a dismal VND 54.3 bn ($2.33 million) with shares selling at an average price of VND 10,002 each.
According to Hanoi Stock Exchange data reported by Reuters, the shares were sold to 39 individual investors and two corporate investors.
