The government has geared up for the divestment of State-owned capital from many large State-owned enterprises (SOEs) this year, according to the Ministry of Finance.
PetroVietnam Oil Corporation (PV Oil) is among the list of enterprises to have State-owned capital divested in 2018. (Photo: VNA)
Hanoi(VNA) – The government has geared up for the divestment of State-owned capital frommany large State-owned enterprises (SOEs) this year, according to the Ministryof Finance.
In the firstquarter of 2018, the State will sell its stakes in three SOEs owned by theVietnam National Oil and Gas Group (PetroVietnam), including Binh Son Refiningand Petrochemical Co., Ltd (BSR), PetroVietnam Power Corporation (PV Power) andPetroVietnam Oil Corporation (PV Oil), for about 100 trillion VND (4.4 billionUSD) in total.
Binh Son Refiningand Petrochemical Company Limited (BSR) plans to float 242 million shares, 7.79percent of its chartered capital, in an IPO scheduled for January 17 on the HoChi Minh Stock Exchange (HOSE). The shares will be sold at the initial price of14,600 VND.
PV Power will putmore than 468.3 million shares for sale in its IPO on January 31, 2018 on theHanoi Stock Exchange (HNX) at the price of 14,400 VND per share.
Meanwhile, PV Oilwill offer nearly 207 million shares or a fifth of its charter capital for saleon January 25 on the HOSE at a starting price of 13,400 VND.
Big names in thedivestment plan also include Vietnam Rubber Group which has a charter capitalof 50 trillion VND (2.2 billion USD), Hanoi Beer-Alcohol and BeverageCorporation (HABECO), and Vietnam’s largest dairy company Vinamilk.
The rubber groupwill auction 475 million shares, 11.88 percent of its total capital to thepublic in its initial public offering (IPO) next year, at an initial price of13,000 VND. The group missed the first deadline for its IPO, which wasscheduled for July 2017.
The divestment list includes three SOEs underthe Ministry of Industry and Trade, one under the Ministry of Transport, twounder the Ministry of Labour, Invalids and Social Affairs, two under theMinistry of Environment and Natural Resources, one under the Ministry ofCulture, Sports and Tourism, one under the Ministry of Health, and eight underthe Ministry of Construction.
The remainingfirms on the list are managed by the State Capital Investment Corporation(SCIC) and administrations of cities and provinces across the country.-VNA
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PetroVietnam Oil Corporation (PV Oil) is among the list of enterprises to have State-owned capital divested in 2018. (Photo: VNA)
