As Vietnam's stock market neared its opening at the end of 1999, the State Securities Commission had approached 14 companies to list, but most declined. REE was the first to agree, followed by SACOM (now SAM Holdings), which was outside the original list. Earlier, REE had struggled to raise capital, finding buyers for a 20% stake in 1993 and issuing a 5 million USD international convertible bond in 1997; SACOM needed 120 billion VND for a new factory but could not sell its 51% stake. Both companies saw listing as a source of long-term capital, though preparing the listing documents proved difficult, especially for SACOM, which drafted its prospectus without outside advisers. The REE and SAM tickers traded in the first session on July 28, 2000.
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Original headline: Bí mật sau những tờ cổ phần “ế” và hành trình 26 năm của hai cổ phiếu đầu tiên trên sàn chứng khoán
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