Farmers take care of rubber sapplings (Photo: VNA)Hanoi (VNA) – The VietnamRubber Group (VBG) will hold an initial public offering (IPO) in the secondquarter of 2017, said General Director Tran Ngoc Thuan.
The State-run company plans to sell25 percent of its capital, or 10 trillion VND (440 million USD), in the firststage.
According to Thuan, due to a hugeamount of equitised capital, a list of strategic investors will be submitted tothe Ministry of Agriculture and Rural Development and the Prime Minister forapproval.
The group’s shares will be sold tostrategic investors in the second stage.
The VBG will equitise its 20subsidiaries and four non-trade units.
In 2016, the rubber groupsuccessfully sold stakes in two subsidiaries, the Tan Bien and Ba Ria limitedcompanies. It also estimated its own value, as well as that of its membercompanies.
On December 31, 2016, the VRG soldits stakes in 24 non-administrative units and collected more than 2.9 trillionVND (128.9 million USD).-VNA
VNA
