The State will hold zero percent stake in the Vietnam Tea Corporation (Vinatea), according to a recently-approved plan for equitising Vinatea.

The corporation's chartered capital was 370 billion VND (17.3 million USD). Its equitisation will include the sale of all State-owned capital and the issuance of corporate bonds to raise chartered capital.

Accordingly, the corporation's chartered capital will include roughly 63.74 percent of the stake owned by strategic partners, and the remaining shares stake held by investors, including Vinatea’s workers.

As scheduled, Vinatea will launch its initial public offering within three months. The starting price will be 10,000 VND per share.-VNA