Vietnam shipping company plans share sale
Viet Nam Ocean Shipping Joint Stock Co. (Vosco) is planning to make an initial public offering of 50 million shares of stock next month, and expects to raise about $46 million.
The government will continue to hold about a 60 percent stake in the company after the shares are sold, reported the Viet Nam News, an English language newspaper.
Vosco has a fleet of 26 ships including bulk carriers, tween deckers and four small product tankers. It plans to add 12 more ships to its fleet by 2011 at a cost of $317 million.
Last year the company had revenues of nearly $90 million.
Vietnam shipping company plans share sale
