State-owned Vinatex to sell equity to fund restructuring
03/07/2014
Almost a quarter of the shares in the company will float on the Ho Chi Minh stock exchange on July 22, with a starting price per share of just over $0.50. A similar number of shares will be sold to private investors at the same time, while employees will receive 0.6% of the equity. This will leave the state with a controlling 51% share.
General director, Tran Quang Nghi, told investors in the build-up to the sale that Vinatex will aim to go for a full flotation within three years.
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