Vinalines to auction 20% stake in early August
The auction will take place after several delays as the shipping firm underwent a prolonged revamp.
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The company also planned to debut on the the Unlisted Public Company Market (UPCoM) for shares sold at the auction, for which buyers would have completed their payment.
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Another 2.29 million shares or 0.16% of the charter capital will be sold to employees, while the government will retain 913 million shares, equivalent to a 65% stake.
The firm's IPO has been delayed several times as it needed to undergo a longer-than-expected restructuring process.
Vinalines currently manages and operates a diverse fleet including container ships, bulk carriers, oil tankers, and other types of cargo vessels. The Vinalines fleet has large bulk carriers up to 73,000 DWT, 1,800 TEU container ships, and 50,000 DWT oil tankers.
Of the total of 130.9 million tons of cargo shipped last year by Vietnamese vessels, Vinalines' fleet took 20.2%.
By the end of 2017, Vinalines had completed divestment in 39 companies for VND2.4 trillion (US$105 million) in return, resulting in a net profit of VND360 billion (US$15.8 million).
Overall, the firm saw its debt reduced by VND10.6 trillion (US$440 million) in the 2014 - 2017 period, according to Le Quang Trung, deputy general director of Vinalines.
Additionally, its member companies also cut debts by VND2.3 trillion (US$101 million). As of December 31, 2017, Vinalines' debts owed to banks totaled up to VND14.7 trillion (US$646 million), including principals of VND11.3 trillion (US$497 million) and unpaid interests of VND3.3 trillion (US$145 million).
In the first six months, Vinalines reported revenue of VND6.65 trillion (US$290.4 million), equivalent to 49% of the year target and profit of VND73 billion (US$3.18 million).
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12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
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18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
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16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
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10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
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17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
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21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.
- Foreign companies confirm investment expansion in Vietnam in 2025
- PM invites Skoda to manufacture electric vehicles in Vietnam
- US Berggruen Holdings to help Vietnam set up investment funds
- Vietnam releases Esports White Book 2022-2023
- Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
- Better links with FDI firms to support Hanoi businesses