The IPO is scheduled to take place on September 5 on the Hanoi Stock Exchange. The offered shares are equivalent to 34.8% of Vinalines’ charter capital.
Period for application and deposit lasts from 8am on August 8 to 3pm on August 28. The deadline for the submission of auction tickets is 4pm on August 31.
South Korean-owned company SK Securities had registered to become Vinaline’s strategic investor. However, Vinalines refused as SK Securities does not meet Vinalines’ requests.
“Although they meet the requirement on financial capacity, SK Securities does not commit to supporting Vinalines in technology and human resources. Therefore, Vinalines will not select this investor and we have not yet found a suitable investor in this equitisation,” a Vinalines representative told local media.
Vinalines is a leading company in the field of maritime transportation and logistics, shipbuilding and seaport exploitation in Viet Nam. Some of its affiliates are the Haiphong Port, Saigon Port, the Viet Nam Ocean Shipping JSC, the Viet Nam Sea Transport and Chartering Company and Vinaship.