<article><a href="https://www.dealstreetasia.com/tag/vinalines/">Vietnam National Shipping Lines</a> (Vinalines) will sell a 35 per cent stake to investors at its initial public offering (IPO) to be held in the second quarter of 2018, according to its acting CEO Nguyen Canh Tinh.</article>

<a href="https://www.dealstreetasia.com/tag/vinalines/">Vietnam National Shipping Lines</a> (Vinalines) will sell a 35 per cent stake to investors at its initial public offering (IPO) to be held in the second quarter of 2018, according to its acting CEO Nguyen Canh Tinh.
He told the local media that <a href="https://www.dealstreetasia.com/tag/vinalines/">Vinalines</a> will conduct the IPO in mid-2018. The government will retain a 65 per cent stake in the firm, while investors will be able to buy the remaining 35 per cent.
Under the equalization project which is awaiting approval from the government, Vinalines’ charter capital is estimated at VND13.916 trillion ($612 million), Tinh told local media.
Vinalines will sell 30 per cent of its charter capital to strategic investors while 4.84 per cent will be publicly auctioned on the Hanoi Stock Exchange with a starting price of VND10,000 ($0.44) per share, Tran Tuan Hai, Head of Communication and Development Strategy of Vinalines was quoted as saying, adding that the remaining 0.13 per cent of the charter capital will be sold to employees of the company.
However, up to now, no investor has registered to become a strategic partner although Vinalines has actively sought and negotiated with Rent A Port, Deep C, and others.
Vinalines’ 2017 revenue was estimated at VND16 trillion ($702.4 million), exceeding the annual target by 15 per cent. Profit was VND515 billion ($22.6 million) and total assets stood at over VND18 trillion ($790 million). It targets consolidated profit of $75.8 million on revenue of $757.7 million by 2020.
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Under the equalization project which is awaiting approval from the government, Vinalines’ charter capital is estimated at VND13.916 trillion ($612 million).

Vietnam's shipping major Vinalines to sell 35% stake in IPO in mid-2018

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Vietnam's shipping major Vinalines to sell 35% stake in IPO in mid-2018

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