The Prime Minister has recently approved the equitisation plan of the Machines and Industrial Equipment Corporation. (Photo: VNA)Hanoi (VNA) – The Prime Minister has recently approved the equitisation plan of the Machines and Industrial Equipment Corporation (MIE), which has a total charter capital of 1.42 trillion VND (63.7 million USD).
The plan allows the enterprise to launch its initial public offering (IPO) of 140,831,900 shares, accounting for 99.18 percent of the company’s capital, for 10,000 VND each.
As many as 1,159,600 shares will be sold at preferential price to MIE employees, or 0.82 percent of the charter capital.
The MIE was established in 1990 under the Ministry of Industry and Trade. It consists of four dependent companies, seven subsidiaries and five associate companies. The company manufactures spare parts, machines, rolled steel, hand tools, environment protection equipment, among others.
A total of 109 state-owned enterprises (SOEs) completed equitisation by the end of September last year. The country targeted to equitise 289 SOEs in 2015.
As of September 28, 2015 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
