VietNamNet Bridge – Big corporations like MobiFone Telecommunication Corporation, Saigon Trading Corporation and Ben Thanh Corporation will be auctioned in 2016.

A representative of the Ho Chi Minh City Stock Exchange (HOSE) said that in 2016, HOSE will continue to play an important role in the process of equitization of State-owned enterprises (SOEs).

With the auctions of big corporations and the direction of the Government in promoting the restructuring of SOEs through privatization and divestment of State capital, 2016 is expected to be a year with exciting auction activities.

In 2015, HOSE held many large IPOs (initial public offering) for SOEs such as the Airports Corporation of Vietnam, the Saigon Port, and the Vietnam Seafood Corporation.

According to the Committee for Enterprise Management Renovation, in the period of 2016-2020, HCM City will restructure 46 SOEs, including equitization of 14 corporations.

In 2016 big SOEs like the Saigon Tourist Corporation, the Saigon Trading Corporation, Liksin Corporation and the Saigon Jewelry (SJC) will be equitized.

Saigon Tourist will sell 40-45% of its charter capital to strategic investors and public shareholders, and after equitization it will sell more shares at the appropriate time.

The remaining corporations plan to sell their stakes to strategic investors and public shareholders, from 51% to 60%.

Nam Son