Deputy Prime Minister Vuong Dinh Hue has approved the equitisation plan of Ha Noi Trade Corporation (Hapro).

The trade company has been valued at over VND2.8 trillion (US$122.8 million) and has a charter capital of VND2.2 trillion, equivalent to 220 million shares.

Under Hapro’s equitisation plan, the State would divest entirely from the trading company.

More than 1 million shares, or 0.49 per cent of its charter capital, would be sold to its employees and 143 million shares, or 65 per cent of the charter capital, to strategic investors. The rest would be sold to the public.

The initial price was set at VND12,800 per share.

Hapro operates in import and export, commercial services, domestic trade and trade infrastructure development.

In 2016, the company earned a revenue of nearly VND4.1 trillion and a pre-tax profit of VND65 billion. — VNS