Vinalines cues up more IPOs

Hanoi: Despite limited response from earlier IPOs, Viet Nam National Shipping Lines (Vinalines) has announced plans for initial public offerings (IPOs) for five more port operators by the end of the year.

Cam Ranh, Nghe Tinh, Can Tho, Nam Can and Saigon port will all sell stakes by year-end.

Another three Vinalines subsidiaries are expected to be equitized also as the shipping line tries to restructure following huge debts incurred in recent years. The subsdiaries are Vinalines Hai Phong, Vinalines Shipping Company and Vinalines Container Shipping Company.

Vinalines remains in the red and is forecast to lose more than VND1trn this year.

Interest in Vinalines’s earlier IPOs have been muted with four ports already listing this year.  [23/07/14]

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