Vinalines withdraws from transport company

Thursday, Oct 17, 2013 15:55

Vinalines will sell 360,000 Portserco shares over the next month. — Photo

HA NOI (Biz Hub) ― State-run Viet Nam National Shipping Lines (Vinalines) said it had registered to unload its entire stake of 30.54 per cent, equivalent to 360,000 shares, in the Portserco Joint Stock Company (PRC), in a restructure of its investment capital sources.

The shares were expected to be sold between October 18 and November 15.

Vinalines is facing serious financial problems due to its leaders' corruption and mismanagement, and is under a restructuring process following a Government request.

Portserco deals in transport, petroleum trading, automobile and ship repair, and maritime and logistics services. PRC shares on Thursday closed up 0.8 points at VND8,800 (US$0.42) on the Ha Noi Stock Exchange. ― VNS

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