Vietnam National Shipping Lines (Vinalines) has announced plans for initial public offerings (IPOs) for five more large port operators by the end of the year.
According to Vinalines' restructuring plan, four ports, Cam Ranh, Nghe Tinh, Can Tho and Nam Can, will sell stakes by year-end.
Sai Gon Port will complete its equitisation plan at the same time.
The five ports have signed contracts with consultants for the upcoming IPOs. Meanwhile, Nghe Tinh Port has completed the company's valuation and submitted the document to Vinalines. Hai Phong Port has already been equitised.
Vinalines plans to privatise 10 businesses as part of the group's wide restructuring arrangement. Five were finalised last year.
Along with the parent company, Vinalines also hopes to equitise three subsidiaries, Vinalines Hai Phong, Vinalines Shipping Company and Vinalines Container Shipping Company.
Equitisation, capital divestment and winding up loss-making companies are viewed as the remedy for Vinalines to pay debts and revive its business.-VNA
According to Vinalines' restructuring plan, four ports, Cam Ranh, Nghe Tinh, Can Tho and Nam Can, will sell stakes by year-end.
Sai Gon Port will complete its equitisation plan at the same time.
The five ports have signed contracts with consultants for the upcoming IPOs. Meanwhile, Nghe Tinh Port has completed the company's valuation and submitted the document to Vinalines. Hai Phong Port has already been equitised.
Vinalines plans to privatise 10 businesses as part of the group's wide restructuring arrangement. Five were finalised last year.
Along with the parent company, Vinalines also hopes to equitise three subsidiaries, Vinalines Hai Phong, Vinalines Shipping Company and Vinalines Container Shipping Company.
Equitisation, capital divestment and winding up loss-making companies are viewed as the remedy for Vinalines to pay debts and revive its business.-VNA
