Thursday, October 19 2017

VietNamNews

26 enterprises’ equitisation plans approved in seven months

Update: August, 14/2017 - 15:00
Vinamilk is one of the divested enterprises this year. — Photo tapchitaichinh.vn
Viet Nam News

HÀ NỘI — Seven State-owned enterprises’ (SOEs) equitisation plans were approved in July, bringing the total number for the first seven months of 2017 to 26.

The Corporate Finance Department, under the Ministry of Finance, reported that the total real value of these 26 enterprises is VNĐ71.88 trillion (US$3.16 billion), of which VNĐ18.3 trillion belongs to the State.

As per the approved plans, the 26 enterprises have a combined charter capital of around VNĐ22.63 trillion, of which the State holds VNĐ11.06 trillion, shares worth VNĐ6.5 trillion will be sold to strategic investors, VNĐ156 billion to the enterprises’ workers, VNĐ16 billion to trade unions, and VNĐ4.87 trillion will be put up for auction.

During the reviewed period, SOEs divested almost VNĐ3.7 trillion, bringing in around VNĐ15.77 trillion.

According to the department, the equitisation process of SOEs has yet to meet expectations.

To speed up equitisation for the rest of the year, the Ministry of Industry and Trade has to accelerate the sale of State-owned capital in Hà Nội Beer Alcohol and Beverage Joint Stock Corporation (Habeco) and Sài Gòn Beer-Alcohol-Beverage Corporation (Sabeco), and ensure that it is complete before December 1. — VNS

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