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Vinpearl Nha Trang JSC buys majority port stake

Update: August, 03/2015 - 07:53

Vinpearl Nha Trang JSC buys 8.5 million shares, or 34.6 per cent of Nha Trang Port on July 24. — Photo bizlive

HA NOI (VNS) — Vinpearl Nha Trang JSC, a subsidiary of Vingroup, has purchased 8.5 million shares, or 34.6 per cent of Nha Trang Port (CNH).

The Ha Noi Stock Exchange said that Vinpearl Nha Trang JSC bought the shares from state-owned Viet Nam National Shipping Lines' (Vinalines), which still holds 15.07 million shares, a stake of 61.4 per cent.

Nha Trang Port used to be a State-owned enterprise located in Nha Trang Bay, in central Khanh Hoa Porvince. Earlier in 2014, under the Prime Minister's decision of equitisation, the port was valued at more than VND245 billion ($11.21 million) and converted to a joint stock company.

The acquisition of shares follows the Prime Minister's permission, granted earlier this year.

Also, according to the PM's instruction, the remaining 15.07 million shares would be transferred to the Khanh Hoa Provincial People's Committee as the representative of State capital.

According to the province, once it manages the port it would reconfigure the port facilities and develop an international habour to receive cruise liners from overseas.

In April 2015, CNH became listed on the Ha Noi Stock Exchange. CNH closed at VND9,500 (43 US cents) last Friday. — VNS

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