The Hanoi Stock Exchange (HNX) will support the Vietnam Posts andTelecommunications Group (VNPT) in formulating a scheme for sellingstakes as regulated under its restructuring plan.
This was announced under a cooperative agreement signed by the representatives of the two sides in Hanoi this week.
Asper the agreement, the group will ask firms, in which it owns shares,to register or list their shares; and will sell its stake in thesecompanies on the stock exchange.
HNX will alsoconsult, instruct and support the group and its firms to completedocuments and procedures for auctioning stakes, registering and listingon the stock market. It will also support VNPT's enterprises topublicise information on the stock market and help them in attendingtraining courses and conferences to understand international-standardmanagement principles for boosting openness, transparency, andeffectiveness at these companies.
Speaking at the signingceremony on March 18, the Deputy Minister of Information andCommunications Nguyen Minh Hong, said the collaboration will enhance theprocess for VNPT's divestment, as well registration and listing of itsequitised companies.
Nguyen Thi Hoang Lan, ViceChairwoman of the management board and Deputy General Director of HNX,said that until now, there were five enterprises in which VNPT ownedstakes and which listed and registered on the stock exchange with atotal value of about 3 trillion VND (142.8 million USD).
She said the two sides shared close and effective relations, becausethe group was providing consultancy, telecom and IT infrastructure, and anetwork for market data transfer at the Hanoi bourse.
VNPT's restructuring plan for the 2014 to 2015 period was approved bythe Prime Minister on June 10, 2014, under which the corporation isrequired to divest non-core businesses at 63 enterprises.
After it is restructured, VNPT will hold less than half of the chartercapital at 18 firms, besides its member companies.-VNA
This was announced under a cooperative agreement signed by the representatives of the two sides in Hanoi this week.
Asper the agreement, the group will ask firms, in which it owns shares,to register or list their shares; and will sell its stake in thesecompanies on the stock exchange.
HNX will alsoconsult, instruct and support the group and its firms to completedocuments and procedures for auctioning stakes, registering and listingon the stock market. It will also support VNPT's enterprises topublicise information on the stock market and help them in attendingtraining courses and conferences to understand international-standardmanagement principles for boosting openness, transparency, andeffectiveness at these companies.
Speaking at the signingceremony on March 18, the Deputy Minister of Information andCommunications Nguyen Minh Hong, said the collaboration will enhance theprocess for VNPT's divestment, as well registration and listing of itsequitised companies.
Nguyen Thi Hoang Lan, ViceChairwoman of the management board and Deputy General Director of HNX,said that until now, there were five enterprises in which VNPT ownedstakes and which listed and registered on the stock exchange with atotal value of about 3 trillion VND (142.8 million USD).
She said the two sides shared close and effective relations, becausethe group was providing consultancy, telecom and IT infrastructure, and anetwork for market data transfer at the Hanoi bourse.
VNPT's restructuring plan for the 2014 to 2015 period was approved bythe Prime Minister on June 10, 2014, under which the corporation isrequired to divest non-core businesses at 63 enterprises.
After it is restructured, VNPT will hold less than half of the chartercapital at 18 firms, besides its member companies.-VNA
