Vinalines to sell 30% shares to strategic investors

The Hanoitimes – The Ministry of Transport has submitted to the government the equitization plan for Vietnam National Shipping Lines (Vinalines), for which the government currently holds 65% of the chartered capital. According to this plan, the Ministry of Transport decided to divest state fund from Vinalines in parallel with issuing stakes to increase chartered capital. Specifically, Vinalines will increase its chartered capital to 14 trillion VND or 616 million USD (equivalent to 1.4 billion shares with 10,000 VND per share) after completing the equitization process, in which the government owns 904.5 million shares, equivalent to 65% of the company’s chartered capital.   Vinalines will sell 30% of its chartered capital to strategic investors. In addition to the preferred shares sold to employees (0.13% of chartered capital), Vinalines will sell 30% of its chartered capital to strategic investors. The remaining shares of 67.3 million shares, equivalent to 4.84% of chartered capital will be opened for public auction at the Hanoi Stock with initial price offering of 10,000 VND per share.  Previously, in the beginning of December 2017, based on the request from Vinalines, the Ministry of Transport approved the value of Vinalines as of December 31 2016 to be 18 trillion VND (roughly 792 million USD), including 11.9 trillion VND (523 million USD) worth of state fund. As of present, there are no strategic investor confirming its intention to purchase Vinalines shares. The equitization process, thus, will be carried out in conformity with the law after the Prime Minister approved…

Vinalines to sell 30% shares to strategic investors have 233 words, post on hanoitimes.com.vn at 2018-01-06 00:32:55. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.

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