Vinalines to divest US$15 million capital from Maritime Bank

Monday, Nov 24, 2014 17:42

Vinalines will divest US$15 million from Maritime Bank. The divestment is expected to help the group push up its restructuring plan.— Photo

HA NOI (Biz Hub) — Vietnam National Shipping Lines (Vinalines) will divest its capital of more than 20.1 million shares worth about VND315 billion (US$15 million) from Vietnam Maritime Joint Stock Bank (Maritime Bank).

An auction of Vinalines' shares, with an initial price of VND15,650 each, will be held at the Ha Noi Stock Exchange on December 8.

Vinalines has nine companies that have successfully launched their initial public offering on the Ha Noi bourse. Five of the companies are on the list while the rest have registered for listing on the bourse.

As for the company's five sea ports whose shares have been offered for sale, investors have registered to buy 90 per cent of shares of Da Nang Port, 100 per cent of Quang Ninh Port and 49 per cent of Hai Phong Port. The other ports are Sai Gon and Quy Nhon.

According to news website, negotiations are ongoing for the purchase of these shares, and Vinalines has refused to announce details.

Under the Government-approved restructuring project, Vinalines is allowed to sell the sea ports' shares and reduce State ownership rate. — VNS

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