Illustrative image (Source: VNA)Hanoi (VNA) - The Government raised more than 1.39trillion VND (61.5 million USD) by divesting its stake in State-owned enterprises(SOEs) in the first quarter of this year, according to the Ministry of Finance.
During this period, authorities also approved the equitisationplans of two SOEs - Phuoc An-Dak Nong Coffee Company and Van Tuong Company - ata total value of 987 billion VND, of which 187 billion VND is State capital.
The first quarter also saw several equitised SOEs completeinitial public offering (IPO) auctions, such as Binh Son Refinary, PV Oil, PVPower and Vietnam Rubber Corporation.
According to data of StoxPlus Company, Vietnam’s stockmarkets raised 21.3 trillion VND through the IPO auctions of 12 SOEs in thefirst quarter, equal to the total IPO value of the previous four years.
Experts attributed the high growth to a wave of equitisationof many large SOEs in recent times, especially in the field of energy.
Vietnam considers 2018 a key year in the country’srestructuring plan for SOEs, targeting to divest State capital at 181SOEs and equitise at least 86 SOEs throughout the year, with 64 beinglarge ones. The target is tough, but experts believe it is feasible, thanks tomany favourable conditions, including high economic growth and macro-economicstability.
Investors are waiting for IPOs of large companies in thetrade and services sectors, such as Mobifone, Ben Thanh Group, Satra and SaigonTourist, or in the real estate and construction sectors, such as InvestmentCorporation and Hanoi Housing Development Corporation.
Last year, the Government raised over 144.5 trillion VND bydivesting its stake in SOEs. The proceeds were 2.41 times higher than thetarget of 60 trillion VND set by the National Assembly.-VNA
VNA
