Dung Quat set for IPO

Hanoi: Dung Quat Shipbuilding Industry Company is set for a listing in Vietnam as part of Hanoi’s drive to get state run conglomerates to equitise more of their businesses to make them more competitive and financially leaner. The yard is part of PetroVietnam, which has announced plans for the equitisation of five subsidiaries starting this December. As well as repair, Dung Quat has built tankers of up to 105,000 dwt making it one of the leading shipbuilders in the country.

A number of other shipping related SOEs such as ports, yards and shipping lines have also started to equitise parts of their business in the past 12 months. [13/10/14]

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