State-owned Vietnam National Shipping Lines (Vinalines) is finally proceeding with a much delayed initial public offering. More than five years in the making, Vinalines will list on the Hanoi Stock Exchange on September 5, seeking to raise VND4.89trn ($210m) from selling a 34.8% stake in the company.
The on-off IPO has been mooted for many years and comes after a lengthy period of restructuring for Vietnam’s largest shipping line.
The Vietnamese government has been pushing ahead with a privatisation programme across many state-owned entities in recent years to boost its coffers as well as improve efficiency at many companies.
