Telecom operator Viet Nam Posts and Telecommunications Group (VNPT) will divest its entire holding from the Saigon Posts and Telecommunications Service Joint-Stock Corporation (SPT) in May, it has announced.

On May 25, VNPT will auction 8.52 per cent of SPT’s outstanding shares with par value of more than VND102.5 billion (US$4.5 million) on the Ha Noi Stock Exchange (HNX), with the starting price of VND12,038 per share.

SPT was established in 1995 with chartered capital of VND50 billion. In 1997, the company provided internet services under the SaigonNet brand. In 2006, the company’s S-Fone mobile network was launched nationwide.

SPT operates in the fields of wired telecommunications, wireless telecommunications, portal, communication equipment production, postage, delivery, producing, selling and warranting post and telecommunication equipments, constructing post and telecommunication works.

At present, the company’s chartered capital is more than VND1.2 trillion, of which VNPT holds 8.52 per cent. — VNS