A factory of Vinamotor. Ministry of Transport sold entirely 85.58 million shares of Vinamotor. — Photo ndh.vn

HA NOI (Biz Hub) — The transport ministry (MoT) sold 85.58 million, or 97.7 per cent, of the shares of the Viet Nam Motors Industry Corporation (Vinamotor) at a Ha Noi Stock Exchange auction today.

MoT earned VND1.25 trillion (US$55.5 million) from the divestment.

Motor N.A Viet Nam Limited Company (Vinamco) bought all the shares for VND14,612 ($0.69) each.

Vinamotor has VND876 billion ($38.9 million) in charter capital and mainly produces auto machines. The company has an auto assembly machine factory in the northern Bac Giang Province and has invested in many subsidiary companies.

Vinamco, which operates a Honda showroom in Tay Ho District, Ha Noi, reportedly has VND2 trillion ($88.8 million) in charter capital. It also owns 13 per cent of the shares of Sai Gon Port Jsc. — VNS