16:35 | 10/07/2017 Companies
The overall value of Vietnam National Shipping Lines (Vinalines) for equitization was determined at VND16,741 billion (US$736.60 million) including VND10,144 billion (US$446.33 million) worth of State capital.
Vinalines has submitted the appraisal figure to the Ministry of Transport for approval as a basis for its upcoming equitization.
The corporate value was assessed by the Vietnam Auditing and Valuation Company in co-operation with ATC Auditing and Valuation Firm.
Vinalines is scheduled to launch IPOs in December 2017 under which the State will hold 65% of Vinalines' chartered capital while strategic investors will be offered 17.25% of the chartered capital.
This is the second time Vinalines has carried out a valuation of its corporate value to serve equitization purposes.
Earlier in 2014, Minister of Transport Dinh La Thang signed a decision to approve the value of Vinalines at VND21,287 billion (US$936.62 million) including nearly VND9,000 billion (US$396 million) of State capital.
Vinalines has begun to seek potential strategic partners while waiting for the approval of its corporate value from the Ministry of Transport.
Vinalines organized the first meetings in April to introduce its development orientation to Singaporean enterprises to seek investment opportunities in preparation for the IPOs.