Cam Ranh Port Company Limited will auction over six million shares inits initial public offering (IPO) on the Hanoi Stock Exchange on March16, according to its website.
The firm said foreign investors maybuy the shares, for which the bidding will initially be set at 10,000VND (0.48 USD) per unit. Its total charter capital is expected to hitroughly 264.52 billion VND (12.60 million USD) after the IPO.
Accordingto an online prospectus, Vietnam National Shipping Lines (Vinalines) isthe parent company of Cam Ranh Port. Vinalines holds this firm's entirestate capital of more than 200.5 billion VND (9.55 million USD), asdefined on January 1, 2014.
While Vinalines will represent 51percent of the post-privatisation equity, the six million shares to beauctioned will account for 23 percent, and a similar stake will be soldto strategic investors.
Cam Ranh Port said it is calling forstrategic investors who deal in goods import-export, transportation,logistics, and port operation as well as port infrastructureconstruction. It also needs partners dealing in banking and finance.
The company will reserve a stake of more than 46 percent for other outside shareholders and 2.98 percent for employees.
CamRanh Port is based in the central province of Khanh Hoa and specialisesin seaport services such as inshore transport, vessel repair and fueltrade, alongside goods loading and storage for hire. The Cam Ranh PortMarine Services joint stock company is its affiliate.
Financialreports said the net turnover of Cam Ranh Port ranged between 75 billionVND and 119 billion VND (between 3.57 million USD and 5.57 million USD)per year over the last three years, with annual growth reaching nearly35 percent.
Goods loading accounted for 38.7 percent of allrevenue, while transport represented 18.9 percent and fuel trade made up25.7 percent.
The company projected an annual revenue of some223 billion VND (10.62 million USD) and an after-tax profit of roughly27 billion VND (1.28 million USD) by 2018. The dividend rate is expectedto reach 7 percent by then.
Maritime Bank Securities is the advisor for the IPO.-VNA
The firm said foreign investors maybuy the shares, for which the bidding will initially be set at 10,000VND (0.48 USD) per unit. Its total charter capital is expected to hitroughly 264.52 billion VND (12.60 million USD) after the IPO.
Accordingto an online prospectus, Vietnam National Shipping Lines (Vinalines) isthe parent company of Cam Ranh Port. Vinalines holds this firm's entirestate capital of more than 200.5 billion VND (9.55 million USD), asdefined on January 1, 2014.
While Vinalines will represent 51percent of the post-privatisation equity, the six million shares to beauctioned will account for 23 percent, and a similar stake will be soldto strategic investors.
Cam Ranh Port said it is calling forstrategic investors who deal in goods import-export, transportation,logistics, and port operation as well as port infrastructureconstruction. It also needs partners dealing in banking and finance.
The company will reserve a stake of more than 46 percent for other outside shareholders and 2.98 percent for employees.
CamRanh Port is based in the central province of Khanh Hoa and specialisesin seaport services such as inshore transport, vessel repair and fueltrade, alongside goods loading and storage for hire. The Cam Ranh PortMarine Services joint stock company is its affiliate.
Financialreports said the net turnover of Cam Ranh Port ranged between 75 billionVND and 119 billion VND (between 3.57 million USD and 5.57 million USD)per year over the last three years, with annual growth reaching nearly35 percent.
Goods loading accounted for 38.7 percent of allrevenue, while transport represented 18.9 percent and fuel trade made up25.7 percent.
The company projected an annual revenue of some223 billion VND (10.62 million USD) and an after-tax profit of roughly27 billion VND (1.28 million USD) by 2018. The dividend rate is expectedto reach 7 percent by then.
Maritime Bank Securities is the advisor for the IPO.-VNA
