Vietnam to offload 29.51% stake in plastics producer Binh Minh

Vietnam to offload 29.51% stake in plastics producer Binh Minh

Vietnam’s sovereign wealth fund State Capital Investment Corporation (SCIC) plans to offer its 29.51 per cent stake in one of the country’s leading plastic firms, Binh Minh Plastic JSC (BMP), on March 9, kicking off the much-delayed divestment exercise.

The sale of 24 million shares of the plastic producer will be implemented through a public auction on the Ho Chi Minh City Stock Exchange. At the market price, the sale is expected to raise VND2.16 trillion ($95 million) for the state’s treasury.

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