Vinaplast plans to sell 2.2 million shares in Viet Phuoc Plastic Joint Stock Company next year . — Illustrative image/ Photo citinews

HCM CITY (Biz Hub) — The Viet Nam Plastic Corporation (Vinaplast) will sell its stakes in two of its subsidiaries, the Viet Phuoc Plastic Joint Stock Company and the Thang Long Plastic Joint Stock Company.

According to the State Securities Commission, shares in these two companies will be sold through negotiations between Vinaplast and potential investors at prices not less than their current values.

It said Vinaplast plans to sell 2.2 million shares in Viet Phuoc Plastic Joint Stock Company next year at a face value of VND10,000. It will also sell this year 188,662 shares with a face value of VND100,000 in the Thang Long Plastic Joint Stock Company.

Vinaplast has authorised Director General Le Hoang and the Chairman of Viet Phuoc Plastic JSC's board of directors to seek investors and complete relevant procedures for the sale. — VNS