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Vietnam Rubber Group’s equitisation plan approved

Deputy Prime Minister Vuong Dinh Hue has approved an equitisation plan of the Vietnam Rubber Group (VRG).
Vietnam Rubber Group’s equitisation plan approved ảnh 1A worker is extracting latex from a rubber tree (Photo: VNA)

Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has approved an equitisationplan of the Vietnam Rubber Group (VRG).

TheState will retain 3 billion shares, equivalent to 75 percent of VRG’s charteredcapital of 40 trillion VND (1.76 billion USD) after equitisation.

Thecompany will auction off more than 475 million shares, equivalent to 11.88percent of its total chartered capital to the public.

Another475 million shares will be offered to strategic investors while the remainderof offloaded shares will be sold to the group’s employees and trade union. 

VRGshares will be offered at an initial price of 13,000 VND (0.57 USD) each. TheMinistry of Agriculture and Rural Development will represent the stateownership at the VRG.

ThePrime Minister assigned the Minister of Agriculture and Rural Development tochoose strategic domestic investors after the company’s public auction.-VNA 

VNA
#Vietnam Rubber Group#Deputy PM Vuong Dinh Hue#equitisation plan#strategic investors#Ministry of Agriculture and Rural Development#vietnamplus#Vietnam News Agency
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