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Vinalines to list this December

Vietnam National Shipping Lines (Vinalines) will push ahead with an initial public offering (IPO) in December, as part of efforts by Hanoi to push privatisation among state owned entities.

The government, which will retain 65% of the company, plans to sell 17.25% to strategic partners and another 17.25% to the public.

Vinalines senior officials have been in Singapore this week trying to drum up local interest in its stock offering.

In 2012, Vinalines was hit with a major $2.1bn debt crisis and the arrest of many senior executives for fraud.

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.
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