Equitisation plans of seven more SOEs receive approval in July

Seven State-owned enterprises (SOEs) had their equitisation plans approved in July, bringing the number for the first seven months of this year to 26, according to the Corporate Finance Department under the Finance Ministry.

equitisation plans of seven more soes receive approval in july hinh 0
The department said the total real value of the 26 enterprises is VND71.88 trillion (US$3.16 billion), of which over VND18.3 trillion (US$808.2 million) belongs to the State. 

Under the approved equitisation plans, the SOEs will have a combined charter capital of over VND22.63 trillion (US$995.72 million), of which the State will hold more than VND11 trillion (US$495 million). 

Meanwhile, around VND6.5 trillion (US$286 million) worth of shares will be sold to strategic investors, VND156 billion (US$6.86 million) to the enterprises’ workers, VND16 billion (US$704,000) to trade unions, and nearly VND4.87 trillion (US$214.28 million) will be put up for auction. 

According to the department, the equitisation process of SOEs has yet to meet expectations.

In order to speed up equitisation in the remaining time of the year, the Ministry of Industry and Trade needs to accelerate the sale of State-owned capital at the Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) and the Saigon Beer-Alcohol-Beverage Joint Stock Corporation (Sabeco) in order to complete by December 1.

During the period, SOEs divested almost VND3.7 trillion (US$162.5 million) of investment from operations outside their core business and brought in over VND15.77 trillion (US$693.88 million) in the process.