Vietnam Railways records success in equitisation. (Source: VNA)

Hanoi (VNA) – The State-owned Vietnam Railways (VNR) has seen certain success in its equitisation process as 23 out of its 24 subsidiaries have completed initial public offerings (IPOs) to date, said VNR Deputy General Director Doan Duy Hoach.

The only one left, Bac Giang Railways Information and Signals Company, plans its IPO on December 31, completing the corporation’s equitisation plan in 2015.

However, Hoach admitted that the IPOs failed to attract strategic investors with a majority of share buyers being employees of these companies.

Since the beginning of 2015, VNR has requested its members to work closely with consulting firms to map out and implement all equitisation activities in accordance with existing laws, he noted.

All equitised companies will start operation on January 1, 2016 as scheduled, he added.-VNA