Vietnam SCIC Rakes in US$21M from Stake Sales in 97 Firms
Vietnam’s State Capital Investment Corporation (SCIC) raised VND375 billion (US$21 million) from selling state shares in 97 joint stock companies with book value of VND222 billion in the first nine months of this year.
The corporation took over state stakes valued at VND20.5 billion in 11 enterprises during the period.
As of Sept. 25, the SCIC managed a portfolio of 709 companies and held 34.5% of their combined registered capital of VND24.63 trillion.
The list includes 13 companies for strategic investment, 116 firms for flexible investment and 580 firms to be divested soon.
The SCIC, managing state investment in joint stock firms and invests in national key projects, earned pretax profit of VND1.415 trillion on revenue of VND1.674 trillion in the first three quarters of 2009.
The giant plans to auction shares in 170 enterprises in the remaining three months to restructure its portfolio. (Stock Investment, Labor)
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