Vinalines seeks strategic investors in Singapore

15:51 | 27/04/2017 Economy

The Vietnam National Shipping Lines (Vinalines) held a workshop in Singapore on April 26 to introduce its development orientations to seek strategic investors.

Illustrative image (Source: VNA)

The event drew businesses and companies operating in the fields of marine transport, navigation services, and banking in Singapore.

Le Quang Trung, head of Vinalines’ market development department, said the company is implementing equitisation and set to launch its initial public offering (IPO) in December 2017 with the chartered capital of 550 million USD.

The State will hold 65 percent of the chartered capital at the parent company while strategic investors will have an opportunity to hold up to 17.25 percent of the chartered capital, he added.

Singapore is a potential partner of Vinalines with many Singaporean businesses being interested in the fields of seaport and navigation services, he said.

The synchronous development of the company’s seaport system along with shipping fleets and logistics infrastructure is to create a chain of full-package services for businesses.

It also aims to realise the company’s strategic development plan of increasing competitiveness, a representative said.

Foreign investors will have chance to join key seaport projects that Vinalines will carry out in 2017-2020, with a vision towards 2030.

The company is also participating in the Sea Asia 2017, a premier maritime conference and exhibition, in Singapore from April 25-27.

Theo VNA