Ha Noi to sell water company

The Ha Noi People's Committee has decided to equitise Ha Noi Clean Water Ltd Co No2, according to Dau Tu (Investment) online newspaper.

The firm, an affiliate of Ha Noi Clean Water Ltd Co, has a charter capital of VND568 billion (US$26 million).

An estimated 56.8 million shares at an initial price of VND10,000 each are scheduled to be issued during the first initial public offering (IPO).

The State will hold 96.64 per cent of stakes, while 1.86 per cent of stakes will be sold to the company's employees, and 1.5 per cent of stakes will be sold on the market.

According to the People's Committee's report, Ha Noi will approve business value and equitisation plans for 17 businesses by the end of this month.

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