Vietnam SCIC Mulling to Sell Stakes in Roughly 700 Small Enterprises
The State Capital Investment Corporation (SCIC) is considering the share sales in 689 small-sized enterprises which account for 28 per cent in the corporation’s investment portfolio, according to the SCIC General Director Tran Van Ta.
Ta did not specify when the share sales will take place as it is now difficult to mobilize capital via the stock market amidst the global and local crisis.
The SCIC will still hold stakes in big enterprises which play key roles in the national economy, Ta noted.
“SCIC may meet more difficulties in divesting state capital this year due to enterprises’ problems in capital mobilization, business operation, thus hitting dividend for the state as the major shareholder,” Ta said.
So far, the SCIC has invested nearly VND1.1 trillion to buy additional shares from 70 large-scaled enterprises which manifest high growth potential.
By the end of 2008, the SCIC collected over VND211 billion (US$12.5 million) from selling shares in 70 companies with book value of VND122 billion. Currently, it managed 805 SOEs with the book value of over VND8 trillion (US$470.6 million). (Investment)
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