AsiaPorts and Logistics

Cam Ranh Port readies IPO

Photo of Sam Chambers Sam ChambersMarch 11, 2015
12 Less than a minute

Hanoi: Cam Ranh Port in the central area of Vietnam has set a VND63bn ($3m) goal from at its initial public offering on March 16.

A total of 6.3m shares are on offer at VND10,000 a share.

State-run shipping line Vinalines will retain 51% of Cam Ranh port’s shares after the IPO.

The government has forced the nation’s top line to divest itself of assets as part of restructuring plans. Results of most of the ports recently listed have been disappointing with minimal take up down to the fact that the state was only willing to offload minority takes in each port. Another issue has been the reported losses made at most Vietnamese ports in recent years.

Tags
Photo of Sam Chambers Sam ChambersMarch 11, 2015
12 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button