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FLC makes bid to buy hospital stake

Update: May, 22/2015 - 08:12

The new seven-storey building of Central Giao Thong Hospital, equipped with advanced facilities, is expected to improve the quality of healthcare service in the future. — Photo Viet Hung

HA NOI (VNS) — Property developer FLC Group has proposed the Ministry of Transport to allow it to buy all the shares of the strategic investors of Central Transport Hospital when it undertakes equitisation.

The group, which owns nearly VND4 trillion (US$183.48 million), has pledged to provide the hospital with capital investments in facilities to improve its services. In the healthcare field, the group has invested in and owns 100 per cent shares of Ha Thanh General Hospital in Ha Noi.

FLC group is one of many investors queuing to buy the hospital's shares. They include domestic firms Vingroup and T&T Group as well as foreign investors from Singapore and Malaysia.

Earlier in March, the Transport Ministry submitted the hospital's equitisation plan to the Prime Minister. Under the plan, the hospital will sell a part of State-owned capital contribution and issue bonds to increase its charter capital.

The hospital is worth VND158 billion ($ 7.4 million), which includes 86 per cent of the State capital. After the equitisation, it is expected to have a charter capital of VND168 billion ($7.8 million), equivalent to 16.8 million shares.

In the initial public offering (IPO) launch, the State will hold 30 per cent of charter capital, while the hospital's staff will have 8.7 per cent. As many as 30 per cent will be for strategic investors and the remainder 31.3 per cent will be auctioned in public.

Transport Hospital, which is a 21,200sq.m general hospital at Chua Lang Street, Dong Da District, recently opened a healthcare building on a total investment capital of US$15 million.

The seven-storey building, built on nearly 17,000sq.m, has been equipped with advanced healthcare facilities and 200 beds. It was built on capital from the OPEC Fund for International Development's official development assistance.

The hospital will be the first public healthcare centre in Viet Nam to complete its equitisation. It plans to launch its IPO in September this year. — VNS

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