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| The floating dock M83 managed by the Vinalines Shipyard Company Limited. — Photo dantri.com.vn |
Viet Nam News
HÀ NỘI — Việt Nam National Shipping Lines (Vinalines) wants to transfer its stake, valued at VNĐ262.5 billion (US$11.5 million), in the Vinalines Shipyard Company Limited (VNLSY).
The stake will be sold via a public auction on the stock market with the initial price of VNĐ82 billion on April 24, according to information revealed by the Hà Nội Stock Exchange (HNX).
Founded in 2008, VNLSY registered a charter capital of VNĐ800 billion, of which Vinalines committed to contribute 85 per cent, equal to VNĐ680 billion.
However, by the end of June 2016, the major shareholders only contributed VNĐ296 billion of which 88.65 per cent comes from Vinalines and 11.35 per cent from the Việt Nam Marine Development and Investment Joint Stock Company.
The company was established to mobilise capital for the construction of a shipyard in the southern province of Bà Ria-Vũng Tàu which is planned to repair 23-25 ships with capacity of 40,000 dead weight tonnages.
In contrast to the initial expectations, since its establishment, VNLSY had had almost no production and business activities, except for managing the floating dock M83 - material evidence involved in Vinalines’ embezzlement case. — VNS
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