The equitisation plan of its parent company had been submitted to Prime Minister Nguyen Xuan Phuc following approval by the Ministry of Transport and the equitisation was expected to be started in September this year.
By late 2017, the parent company of Vinalines owned 19 affiliates, including 10 firms specialising in seaport operations
Under the plan, the state will hold 65% of the charter capital, equal to over 910 million shares. Some 208 million shares will be sold to strategic investors, equivalent to 14.8% of the charter capital, nearly 2.3 million shares, equivalent to 0.16% of the charter capital will be sold to employees, and the trade unions will be offered shares equivalent to 0.04% of the charter capital.
Between January and June this year, the parent company of Vinalines expects to earn revenues of VND533.8 billion, making a loss of VND1.14 trillion.
However, the company hopes to make profits of VND143.9 billion in the second half of this year. The profits are expected to increase to VND177.2 billion in 2019 and VND223.5 billion by 2020.
By late December last year, the parent company of Vinalines owned 19 affiliates, including 10 firms specialising in seaport operations.
After completing equitisation, Vinalines will have charter capital of over VND14 trillion (USD612.5 million), including state capital of nearly VND12 trillion. For stake value of VND10,000 per share, Vinalines will offer 1.4 billion shares in the coming initial public offering.
