Vinalines valued at $1 billion ahead of IPO

The Viet Nam National Shipping Lines (Vinalines) was valued at more than VND21 trillion (US$1 billion), a corporation official told Biz Hub on December 22.

More than VND8.3 trillion ($395.23 million) of the total amount was State capital.

The assessment, dated December 31, 2013, has been partly completed ahead of the corporation's equitisation in the first quarter of next year.

The result will be sent to the Transport Ministry for approval next month.

According to the itinerary approved by the ministry, Vinalines will launch its initial public offering at the same time as its subsidiary company, Saigon Port, in the first quarter of 2015.

Saigon Port was valued at nearly VND4 trillion ($190.47 million).

Earlier, the Government agreed to revise the State's holding to 51 per cent in key businesses in seaports such as Hai Phong, Da Nang and Saigon.

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