Prime Minister approves the equitization plan of Vinalines
On June 20th 2018, at the Decision No. 751 / QD-TTg, the Prime Minister approved the equitization plan of the parent company – Vietnam National Shipping Lines.
According to this decision, the form of equitization of the parent company – Vietnam National Shipping Lines is to sell a part of the existing state capital as well as to issue more shares to raise its charter capital. After equitization, the parent company will have a chartered capital of VND14,046,058 billion, including a state capital of VND11,946,058 billion. The State will hold 65% of charter capital; 14.8% of charter capital will be sold to strategic investors; 2% of charter capital will be sold at preferential price for VNL employees and trade union.
Also in this Decision, The Prime Minister has authorized the Ministry of Transport to direct Vinalines to implement the plan of selling shares to the public, to choose strategic investors and handle all problems of employees and related content. The lauching of IPO will be in September 2018 as planned.
According to new management model, the international transaction name of Vinalines will be changed to VIETNAM MARITIME CORPORATION (VIMC). Vinalines up to 2020 still holds the target is the industry leader of Vietnam in the fields of shipping, port operation and maritime services. By 2030, Vinalines expects to become a brand-name enterprise in the region with high competitiveness, expanding of shipping business in the direction of restructuring container fleet and dry cargo fleet, occuping the import market, domestic market and joining in intra-Asia market. In addition, the resources will be concentrated on investing in deep-sea ports that having a key location such as Tan Vu and Lach Huyen in the North, raising the capacity of Tien Sa ports in the Central, Hiep Phuoc, Cai Mep – Thi Vai deep-sea port complex in the South etc. Continue to focus on providing full – package solutions based on three core operating segments.
In the last two years, the business of Vinalines has prospered. In 2017, the total of tonnage of shipping market reached nearly 25 million tons, increase 7% compared to the plan. The capacity throughput reached nearly 90 million tons, increase 13% compared to the plan. Total revenue reached nearly VND 16,000 billion, increase 15% compared with the plan. Consolidated profit of the parent company reached VND 515 billion in the last several years.
