First Vietnamese hospital to launch IPO in September

Wednesday, Apr 01, 2015 16:59

The model of renovated Central Transport Hospital. — Photo

HA NOI (Biz Hub) – The Central Transport Hospital plans to launch its initial public offerings (IPO) in September, making it the first hospital in the country to do so.

Spread over 21,000 square metres in both the Cau Giay and Dong Da Districts of Ha Noi, the hospital is the biggest in the transport industry in Viet Nam, said Deputy Transport Minister Nguyen Hong Truong.

It was also the first hospital in the country to be equitized, Truong told the local media.

Truong said the equitization was done in the hope of improving the hospital's quality, local employees and to integrate it globally.

The hospital is worth VND158 billion (US$ 7.4 million), which includes 86 per cent of State capital. After the equitization, it will have a charter capital of VND168 billion ($7.8 million), equivalent to 16.8 million shares.

Under the plan, the hospital will also sell parts of the State holding capital to others. It will also issue more shares at the same time.

Thus, the State will retain 30 per cent of the stake, employees of the hospital can buy a 10.52 per cent stake, strategic investors can buy 30 per cent of the stake and the remaining 29.48 per cent stake will be sold during the IPO.

If the Prime Minister approves the plan, the hospital will launch the IPO this September, and will work as a joint stock hospital in early 2016.

Earlier, local media had reported that Singapore's Brookline Medical, which specialises in cancer diagnosis and treatment, the T & T Group and Vingroup would enter a strategic partnership to take care of the hospital.

Specialising in real estate and trading services, Vingroup currently owns the Vinmec International Hospital chain in the country, while the T &T Group is a local multi-industry group, which is mostly involved in finance and the real-estate industry. — VNS

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