Illustrative image (Source: Internet)
Hanoi (VNA) - The Vietnam Ship Building Industry Corporation (SBIC) said it will auction off about 4.479 million shares in the PetroVietnam Marine Shipyard JSC (PV Shipyard) on October 21.

The shares account for 7.53 percent of PV Shipyard’s stock on the market.

The move aims to recover SBIC’s capital from PV Shipyard in order to add to its manufacturing and business in the coming time.

As planned, the auction will be held at the Hanoi Stock Exchange with the starting price of 10,000 VND/share.

PV Shipyard’s charter capital stands at nearly 594.9 trillion VND (26.77 billion USD). The company operates in building and upgrading ships and oil rigs, and providing port, warehousing and transport services.

Apart from SBIC, the Vietnam Petroleum Technical Services Corporation (PTSC) , has a 28.75 percent stake (17,105 million shares) in PV Shipyard. Meanwhile, the Bank for Investment and Development Bank of Vietnam (BIDV) and the Vietnam Machine Erection Corporation (LILAMA) each owns a 4.03 percent stake (over 2.4 million shares) in the firm.-VNA