January 08, 2018 | 17:22 (GMT+7)
Vietnam gears up for divestment from large SOEs
The government has geared up for the divestment of State-owned capital from many large State-owned enterprises (SOEs) this year, according to the Ministry of Finance.
In the first quarter of 2018, the State will sell its stakes in three
SOEs owned by the Vietnam National Oil and Gas Group (PetroVietnam),
including Binh Son Refining and Petrochemical Co., Ltd. (BSR),
PetroVietnam Power Corporation (PV Power) and PetroVietnam Oil
Corporation (PV Oil), for about VND 100 trillion (USD 4.4 billion) in
total.
    |
 |
PetroVietnam Oil Corporation (PV Oil) is among the list of enterprises to have State-owned capital divested in 2018.
|
Binh Son Refining and Petrochemical Company Limited (BSR) plans to
float 242 million shares, 7.79 percent of its chartered capital, in an
IPO scheduled for January 17 on the Ho Chi Minh Stock Exchange (HOSE).
The shares will be sold at the initial price of VND 14,600.
PV Power will put more than 468.3 million shares for sale in its
IPO on January 31, 2018 on the Hanoi Stock Exchange (HNX) at the price
of VND 14,400 per share.
Meanwhile, PV Oil will offer nearly 207 million shares or a fifth
of its charter capital for sale on January 25 on the HOSE at a starting
price of VND 13,400.
Big names in the divestment plan also include Vietnam Rubber Group
which has a charter capital of VND 50 trillion (USD 2.2 billion), Hanoi
Beer-Alcohol and Beverage Corporation (HABECO), and Vietnam’s largest
dairy company Vinamilk.
The rubber group will auction 475 million shares, 11.88 percent of
its total capital to the public in its initial public offering (IPO)
next year, at an initial price of VND 13,000. The group missed the first
deadline for its IPO, which was scheduled for July 2017.
The divestment list includes three SOEs under the Ministry of
Industry and Trade, one under the Ministry of Transport, two under the
Ministry of Labor, Invalids and Social Affairs, two under the Ministry
of Environment and Natural Resources, one under the Ministry of Culture,
Sports and Tourism, one under the Ministry of Health, and eight under
the Ministry of Construction.
The remaining firms on the list are managed by the State Capital
Investment Corporation (SCIC) and administrations of cities and
provinces across the country.
Source: VNA