Vinalines holds roadshow for upcoming IPO

Vietnam National Shipping Lines (Vinalines) is welcoming all investors interested in becoming shareholders of the corporation during its initial public offering (IPO) scheduled for September 5 at the Hanoi Stock Exchange.

Monday, August 20, 2018 20:23

Vinalines holds roadshow for upcoming IPO ảnh 1

As a leading maritime business, Vinalines specialises in seaport exploitation, and marine transportation and services. (Source: VNA)

Hanoi (VNA) – Vietnam National ShippingLines (Vinalines) is welcoming all investors interested in becomingshareholders of the corporation during its initialpublic offering (IPO) scheduled for September 5 at the Hanoi Stock Exchange.

Vinalines Acting General Director Nguyen CanhTinh said at a roadshow in Hanoi on August 20 that, as a leading maritimebusiness, Vinalines specialises in seaport exploitation, and marine transportationand services.

The corporation will offer more than 488.8million shares for sale, equal to 34.8 percent of its chartered capital, at thecoming IPO. The initial bidding price is 10,000 VND (0.44 USD) per share.

Investors will have to complete registrationsand make deposits for the IPO before 15:30 on August 28. Auction tickets shouldbe submitted no later than 16:00 on August 31.

At present, Vinalines operates 14 seaportsnationwide and owns the largest area of maritime storage in Vietnam throughnine associated companies and subsidiaries. It also owns a fleet of 84 vessels,accounting for 25 percent of the total deadweight tonnage of the domestic seatransport market.

The firm said in recent years, it has successfullyrestructured and cut down its debt from 9.1 trillion VND (equivalent to 400.8million USD) in 2014 to 2.61 trillion VND (114.9 million USD) in 2017.

Last year, it posted 15.79 trillion VND (695.6million USD) in consolidated revenue.–VNA

VNA

#Vietnam National Shipping Lines #initial public offering #IPO #Vinalines Acting General Director Nguyen Canh Tinh #domestic sea transport market #initial bidding price

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