Vinatex Plans Public Offering in 2012
Vietnam National Textile and Garment Group (Vinatex), the country’s largest textile and clothing producer plans to sell its shares to the public in 2012 in a bid to edge competitiveness.
The equitization plan will help Vinatex to seize opportunity to become more competitive.
So far, 95% of the group’s assets have been evaluated.
The group’s investment in non-core activities now is VND 200 billion (US $9.6 million), or 7% of its property.
Textile and garments accounted for over 30% of Vietnam’s total exports in 2011. The sector gained a trade surplus of around US $6.7 billion last year. In 2012, the sector is targeting a trade surplus of $7 billion.
Vietnamese
