An Quy Hung Company Limited has paid the State Capital Investment Corporation, the previous owner of Vinaconex, over $316 million to acquire nearly 58 per cent of Vinaconex’s shares.
In the first half of 2018, revenue of Binh Son Refining and Petrochemical (BSR) which operates Vietnam’s first Dung Quat oil refinery is estimated to reach up to $2.4 billion, fulfilling 71 per cent of its full year target.
Chairman of Comvik has expressed the interest in becoming the strategic investor of Vietnam Mobile Telecom Services One Member Limited Liability Company in its upcoming equitization.
Vietnam will attract more foreign capital, improve its transparency and the investment environment when its market is upgraded from frontier to emerging.
Vietcombank (stock code: VCB), the largest commercial bank in Vietnam by market capitalization, has earned VND334 billion (US$14.6 million) after selling 7.6 million shares in Vietnam Airlines (stock code: HVN).
Under the restructuring scheme, the Vietnam National Chemical Group (Vinachem) will hold less than 50 per cent stake in seven companies and sell all of its stake in 15 other companies.
Viet Nam Southern Food Corporation (Vinafood 2) recorded a business loss in the first half of last year and is maintaining a long-term debt of VND3,770 billion (roughly US$166.26 million).
When it comes to mergers and acquisitions (M&A), investors often prefer to take over 50% of the shares to become controlling shareholder; however, the Japanese oil giant JXTG has not intended to acquire majority stake in Petrolimex.
In 2017, the target of revenue from equitization and divestment is VND60 trillion (more than US$2.6 billion) but the sale of shares in Sabeco alone has brought in VND110 trillion (US$4.85 billion).
Looking at Vietnam's macroeconomic indicators over the past seven years, we can see that despite the growth, the national economy still faces many risks related to current account deficits and inflation.
