Vinalines set to launch IPOs for five large port operators
Vietnam National Shipping Lines (Vinalines) has announced plans for initial public offerings (IPOs) for five more large port operators by the end of the year.
Vietnam National Shipping Lines (Vinalines) has announced plans forinitial public offerings (IPOs) for five more large port operators bythe end of the year.
According to Vinalines' restructuring plan, four ports, Cam Ranh, Nghe Tinh, Can Tho and Nam Can, will sell stakes by year-end.
Sai Gon Port will complete its equitisation plan at the same time.
Thefive ports have signed contracts with consultants for the upcomingIPOs. Meanwhile, Nghe Tinh Port has completed the company's valuationand submitted the document to Vinalines. Hai Phong Port has already beenequitised.
Vinalines plans to privatise 10 businesses as part of the group's wide restructuring arrangement. Five were finalised last year.
Alongwith the parent company, Vinalines also hopes to equitise threesubsidiaries, Vinalines Hai Phong, Vinalines Shipping Company andVinalines Container Shipping Company.
Equitisation, capitaldivestment and winding up loss-making companies are viewed as the remedyfor Vinalines to pay debts and revive its business.-VNA
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