Business

State-owned enterprises gear up for equitisation

The Vietnamese market will see more state-owned enterprises (SOEs) equitised in 2018, following the State’s divestment from Sabeco and Vinamilk.
State-owned enterprises gear up for equitisation ảnh 1One corner of the Dung Quat Oil Refinery under Binh Son Refining and Petrochemical Company Limited .(Photo: VNA)

Hanoi (VNA) – The Vietnamese market will see more state-ownedenterprises (SOEs) equitised in 2018, following the State’s divestment from theSai Gon  Beer Alcohol Berage Joint StockCompany (Sabeco) and Vietnam Dairy Products Joint Stock Company (Vinamilk).

Big names set for equitisation include the Vietnam Rubber Group (VRG) andVietnam National Oil and Gas Group’s Binh Son Refining and PetrochemicalCompany Limited (BSR), PetroVietnam Power Company (PV Power) and PetroVietnamOil Corporation (PV Oil), Dang Quyet Tien, Head of the Corporate FinanceDepartment under the Ministry of Finance, announced at a press conference onDecember 25.

The rubber group will auction 475 million shares, 11.88 percent of its totalcapital to the public in its initial public offering (IPO) next year, at aninitial price of 13,000 VND. The group missed the first deadline for its IPO,which was scheduled for July 2017.

Binh Son Refining andPetrochemical Company Limited (BSR) plans to float 242 million shares, 7.79percent of its chartered capital, in an IPO scheduled for January 17 on the HoChi Minh Stock Exchange (HOSE). The shares will be sold at the initial price of14,600 VND.
PV Power will put more than 468.3 million shares for sale in its IPO on January31, 2018 on the Hanoi Stock Exchange (HNX) at the price of 14,400 VND pershare.

Meanwhile, PV Oil will offer nearly 207 million shares or a fifth of itscharter capital for sale on January 25 on the HOSE at a starting price of13,400 VND.

As of December 20, approval has been granted for divestment plans at 21enterprises, nearly half of the set plan.-VNA


VNA
#SOEs equitised in 2018 #State’s divestment #Vietnam Rubber Group #Binh Son Refining and Petrochemical Company Limited #PetroVietnam Power Company #PetroVietnam Oil Corporation #Sabeco #Vinamilk #Vietnam News Agency #Vietnamplus
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