Vinalines will trade 5.4 million shares on the Unlisted Public Company Market (UPCoM) on October 8. (Photo: tienphong.vn)
Hanoi (VNS/VNA) - State-owned shipping firmVietnam National Shipping Lines (Vinalines) will trade 5.4 million shares onthe Unlisted Public Company Market (UPCoM) on October 8, announced by the HanoiStock Exchange.
The shares, under code MVN, will start the first trading dayat 10,000 VND (43 US cents) per share.
At this price level, the company’s market capitalisation willreach 54 billion VND.
On September 5, Vinalines put up 488.8 million shares, or a34.8 percent stake, on sale but only 5.43 million shares were taken at anaverage price of 10,002 VND.
According to the equitisation plan, Vinalines will havechartered capital of nearly 14.05 trillion VND, thus trading volume on UPCoMaccounts for less than 0.4 percent of Vinalines’ capital.
Vinalines, founded in 1995, is a 100 percent State-ownedenterprise. It was transformed into a holding company in 2006 and a State-ownedone member limited company in 2010.
In 2017, its consolidated financial statement recorded totalsales of 13.57 trillion VND, down 7.4 percent year-on-year, and a loss of 537billion VND from business activities. However, other profits of 1.5 trillion VNDlifted the company’s after-tax profit to 748 billion VND, double the previousyear.
Ending 2017, Vinalines had total assets of over 28 trillion VNDbut its liabilities were up to 20.2 trillion VND. The company still incurredcumulative losses of 3.25 trillion VND.
In the first half of this year, Vinalines recorded revenue of6.3 trillion VND and net profit of 23.9 billion VND.-VNS/VNA
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