Monday, December 5 2016

VietNamNews

MoT to divest over $282m in Q2

Update: April, 15/2016 - 09:00
After selling about 78 million shares of the Airports Corporation of Viet Nam (ACV) in its initial public offering last December, the MoT approved a list of strategic investors, share prices, and the first general shareholders meeting of the ACV.. — File Photo

HÀ NỘI — The Ministry of Transport (MoT) will divest more than VNĐ6.3 trillion (US$282 million) from 59 non-core enterprises in the second quarter of 2016, said deputy minister Nguyễn Ngọc Đông on Tuesday.

Đông said in the first quarter, the MoT divested from nine non-core businesses, earning more than VNÐ2 trillion.

Also in Q1, the ministry held the first shareholders general meetings for the 25 joint stock companies which were converted from State-owned firms under its management.

After selling about 78 million shares of the Airports Corporation of Việt Nam (ACV) in its initial public offering last December, the MoT approved a list of strategic investors, share prices, and the first general shareholders meeting of the ACV.

The ministry was also completing documents for the Việt Nam Expressway Corporation (VEC) plan to raise its charter capital from VNÐ1 trillion to VNÐ72.6 trillion by 2019 and implementing the equitisation of the firm.

Since December 2004, VEC has developed the biggest highway projects in Việt Nam including Cầu Giẽ – Ninh Bình, Nội Bài – Lào Cai and HCM City – Long Thành – Dầu Giây, the Đà Nẵng – Quảng Ngãi highway and the Bến Lức – Long Thành highway. It is also preparing for the construction of the Hà Nội – Lạng Sơn highway.

Đông said the MoT asked the Prime Minister to approve the equitisation plan of Nam Thăng Long Hospital in Hà Nội.

The MoT was the most active ministry in carrying out the equitisation of State-owned firms. By the end of 2015, MoT had exceeded its equitisation targets by successfully equitising 137 State-owned including 16 large-scale corporations. — VNS

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