Plan to equitise SEAPRODEX approved

Sunday, 2014-10-19 15:49:23
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NDO – Deputy Prime Minister Vu Van Ninh has apporved a plan to equitise the National Seaproducts Corporation (SEAPRODEX).

The equitised corporation will inherit the SEAPRODEX’s lines of business in accordance with legal regulations.

SEAPRODEX’s charter capital is VND1.25 trillion (US$59 million). It has planned to issue 125 million shares for the first time at VND10,000 per share, in which the State owns 51% of the charter capital. 423,600 shares (0.34%) will be sold at preferential prices to the corporation’s staff while 60,826,400 shares (48.66%) will be up for auction.

The Ministry of Agriculture and Rural Development is the representative body owning the State’s capital. One year after formally becoming an equitised corporation, the representative right will belong to the State Capital Investment Corporation (SCIC) in accordance with legal regulations.