Illustrative image (Source:VNA)

Hanoi (VNA) - The Prime Minister has recently approved the equitisation plan of the Vietnam Medical Equipment Corporation (Vinamed), which has a total chartered capital of 88 billion VND (3.9 million USD).

The plan allows the corporation to launch its initial public offering of 8.8 million shares for 10,000 VND each.

The State will hold 1.76 million shares, accounting for 20 percent of the company’s chartered capital.

As many as 17,200 shares will be sold at preferential prices to Vinamed employees, or 0.2 percent of the chartered capital.

Strategic investors will seize 39.77 percent of the total capital by owning 3.5 million shares. The remaining shares will be offered to other investors.

The Prime Minister asked the Minister of Health to guide Vinamed to carry out the initial public offering, which will come under the hammer at the stock exchanges.

A total of 109 state-owned enterprises (SOEs) have completed equitisation as of the end of September. The set target is to equitise 289 SOEs this year, which means 180 more should complete the process by the year’s end.

As of September 28, total State capital divestment was estimated at nearly 8.7 trillion VND (388.5 million USD), of which 2.69 trillion VND (120.1 million USD) was divested from real estate sector and 1.36 trillion VND (60.7 million USD) from insurance, security and finance-banking sectors.-VNA