Vinalines conducts roadshow to promote upcoming IPO

August 21, 2018 | 16:20
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State-run shipping giant Vinalines conducted a roadshow yesterday to promote its upcoming initial public offering (IPO) scheduled to take place on September 5, 2018 at the Hanoi Stock Exchange.

At the event, Tran Tuan Hai, head of Vinalines' Development Strategy and Communications Division, introduced investment opportunities in the company to interested investors.

Vinalines is the country's largest shipping company and currently owns a fleet of 84 vessels with a total load of 1.87 million deepwater tonnage, accounting for around 25 per cent of Vietnam's national shipping fleet.

The firm is also the largest port operator with 15 seaports of a total capacity of 75 million tonnes a year, accounting for 23.53 per cent of the country's total number of piers and 30.37 per cent of the country's total length of piers.

In 2017, the seaport business brought about the highest profit to Vinalines, with VND1.257 trillion ($55.6 million).

Additionally, Vinalines is a leading logistics services provider with a wide network of warehouses and modern inland container depots along influential seaports.

"Vinalines will reduce the state holding to 65 per cent. By 2020, it aims to maintain its leading position in the Vietnamese shipping industry and become a famous brand in the region by 2030," Hai noted.

The giant also plans to expand its logistics network in the future by investing in inland container depots (ICDs) and logistics centres throughout the country, while focusing on developing deep seaports in the northern, central, and southern regions.

vinalines conducts roadshow to promote upcoming ipo
The roadshow at the Hanoi Stock Exchange

The parent company Vinalines aims to make a net revenue of VND505 billion ($22.35 million) and pre-tax profit of VND180 billion ($1.96 million) in the second half of 2018. The figures will be raised to VND1.048 trillion ($46.37 million) and VND222 billion ($9.8 million), respectively, in 2019.

After the failure of a strategic stake sale, the Vietnamese conglomerate is now betting on the IPO where it will auction off over 488.8 million shares or 34.8 per cent of the stake at the starting price of VND10,000 ($0.44) per share under the ticker MVN.

Registration documents to take part in the IPO and deposits will be accepted on August 8-28.

Vinalines has great expectations for the IPO after drawing great attention among domestic and international groups, including Korea Investment, SK Securities, SM Group, Daiwa, PVI, Mirae Asset, and others.

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By Bich Thuy

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