Brookline Medical Pte Ltd, a Singapore based company, has been reportedly the first foreign investor to register to buy shares of the Vietnam Central Transportation Hospital, the first clinic facility in Vietnam to be equitised.
Vingroup is Vietnam’s leading realty company, which is also active in other related sectors, like retail and healthcare, with the private owned hospital system Vinmec.
Meanwhile, chairman of T&T Group, Do Quang Hien, the well-known businessman in the local football industry, has shown interest in acquiring the entire stake offered to strategic partners in the hospital’s initial public offer (IPO).
During a visit to the hospital last year, Vietnamese prime minister Nguyen Tan Dung had told its executives to find more strategic partners besides Vingroup and T&T.
As stated in the equitisation plan submitted to the Ministry of Transport’s Health Department last week, the Hanoi based hospital is valued at VND158.5 billion ($7.4 million), in which the state capital account for VND136.5 billion ($6.35 million).
With a charter capital of VND168 billion ($7.8 million), the state holding will remain at 30 per cent, while another 30 per cent will be sold to strategic partners and 31.3 per cent is scheduled for public offer. The capital is expected to reach VND430 billion after the equitisation.
The selected strategic partner must have a minimum charter capital of VND100 billion ($4.65 million). If it is a financial investor, the capital is required to be 10 times higher. The hospital also asks strategic partners not to sell their stakes for the first five years and commit to invest in the process of increasing capital, as the hospital is building a $15 million seven-storey facility.