Vinalines will operate as a joint stock company from June this year. — Photo Vietnamplus

The Vietnam National Shipping Lines (Vinalines) will hold its first shareholders’ meeting on June 24, starting operation as a joint stock company model with the new name Vietnam Marine Corporation (VIMC).

Under the new model, the corporation will still focus its business on seaports, marine transportation and marine services.

In preparation for equitisation, the corporation has held two share offerings, in which the initial public offering attracted 42 investors who registered to buy nearly 5.5 million shares, accounting for 1.1 per cent of the total 490 million shares offered for auction. Meanwhile, more than 483 million shares were offered at the second public offering, but no one registered to buy.

The corporation earned revenue of nearly VND2.9 trillion (US$124 million) in the first quarter of this year, in which the marine transportation reached VND1.2 trillion, seaports VND1.08 trillion and the remainder came from marine services. — VNS