Vietnam Ocean Shipping Agency plans public listing

Visual from the VOSA company website

Vietnam Ocean Shipping Agency Corporation (VOSA) will be publicly listed on the Hanoi Stock Exchange within the next few months, the over-the-counter company announced during its recent shareholder meeting.

It has pledged a listing schedule of 11.65 million shares, as soon as possible.

In 2014, VOSA disposed its entire holding of 49 per cent in a joint venture with Tokyo-based NYK Line, selling to the Japanese partner. In addition, Singapore’s Yusen Logistics fully acquired the Yusen Logistics Solutions Vietnam Co Ltd joint venture, receiving 50 per cent transferred from VOSA.

The transactions helped the company’s profit before tax to touch more than VND61 billion ($2.8 million) in the year, jumping 45 per cent over 2013. For this fiscal, VOSA is aiming for a VND56.5 billion in profit.

The company does not expect such another M&A deals in the current year.

It will focus on implementing logistics property projects. Its subsidiary VOSA Land, in which VOSA holds 51.5 per cent, has been established to develop the production and business centre at Ben Van Don street, Ho Chi Minh City.

VOSA will divest from VOSA Land when the project completes, the company said. It will also divest from the local Maritime Bank to concentrate resources on the shipping business.

VOSA, a unit of the Vietnam National Shipping Lines, has another major project in Ho Chi Minh City – the seven-storey Vitamas office building with an investment capital of VND26.8 billion, which is slated to start construction in the third quarter.

The company also has a new warehouse that will be put into use in August.

VOSA plans to pay dividends in 2015 to shareholders at 12 per cent, lower than the 17 per cent mark last fiscal.

Read recent Vietnam IPO stories:

Vietnam based AMD Group to list on Ho Chi Minh City Exchange

Vietnam’s Petrolimex to sell 20% to Japanese partner to reduce state holding

VN IPO dealbook: PPI issues more shares, Thuong Dinh has successful IPO

Vietnam’s Vimico hopes to offload 25% stake during IPO

Vietnam’s Saigon Port gets go ahead for IPO, set to raise $46.5m

Vietnam IPO Dealbook: Trang Thi to conduct IPO, Thien Quang issues additional shares

Vietnam Enterprise Investment & Development to list 10m shares

Vietnam food co Vissan plans IPO, Korean conglomerate CJ in race for strategic stake

Airports Corporation of Vietnam plans IPO, offers 20% to strategic shareholder

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.