Companies slated for disposal in SCIC's 2025 divestment plan
🔥 HOT NEWS: bucha, the nation's colossal corporation on SCiC's chopping block for 2025's divestment 📈
Get ready, folks! The State Capital Investment Corporation (SCIC) has spilled the beans on its divestment plan for the year, targeting an impressive roster of 31 companies. This move is a clear signal of the government's determination to streamline state ownership and boost market efficiency 📊.
Among the heavy hitters on this list is the mighty FPT Corporation (FPT), a tech titan that packs a market capitalization punch weighing in at over VNĐ161 trillion (US$6.8 billion) 💥!
The SCIC, currently the second-biggest shareholder behind FPT's chairman, Truong Gia Binh, holds a stake valued at VNĐ839.8 billion. With the divestment dance in full swing, the question is—who'll take the lead and snap up those shares? 🤔
The divestment list also boasts other major players, such as Vietnam Seafood Corporation (Seaprodex), Tien Phong Plastic Joint Stock Company, Domesco Medical Import Export JSC, Hai Phong Thermal Power JSC, and Quang Ninh Thermal Power Joint Stock Company 💪.
Keep an eye on Ha Giang Mineral and Mechanics JSC, whose shares reached a staggering VNĐ322,000 per share on April 28. Should SCIC manage to offload its 46.6% stake, it could rake in a cool VNĐ1.89 trillion 💰!
The SCIC has already shown off its divestment moves in the past. In late December 2024, it nailed a successful divestment of Thang Long JSC via a heated auction on the Hanoi Stock Exchange (HNX), triggering a surge in Thang Long's share prices 🚀!
Looking ahead, SCIC is prepping for a fierce auction of Domesco shares on May 12, with bids starting at VNĐ1.531 trillion for over 12 million shares 🏎️!
As part of its broader strategy, the Ministry of Finance has got its sights set on finalizing the restructuring of state-owned enterprises and winding down its holdings in companies where it no longer calls the shots 🔄. This offensive is all informed by Decision No. 690/QD-TTg, which the Prime Minister autographed on July 17, 2024, outlining SCIC's restructuring plan through the end of 2025 📄.
FPT is the largest corporation in this divestment list of SCiC. - Photo courtesy of SCIC
From 2021 to 2024, the government rode high on the divestment horse, unloading stocks in 15 enterprises, resulting in a book value of VNĐ405.2 billion and generating enviable revenue of VNĐ656.9 billion 💰👏.
Buckle up, folks, because the 2025 divestment bonanza is shaping up to be the mother of all sales, with projections of approximately VNĐ10.04 trillion in earnings from the planned divestments of 131 state-owned companies 📈💸!
- The State Capital Investment Corporation (SCIC), set to offload 31 companies in 2025, is aiming to streamline state ownership and boost market efficiency.
- Among the companies on SCIC's divestment list is the tech giant, FPT Corporation, which holds a market capitalization of over VNĐ161 trillion.
- SCIC, the second-biggest shareholder behind FPT's chairman, stands to net VNĐ839.8 billion from the divestment, with the potential for higher returns in a competitive share auction.
- In addition to FPT, other companies on the list include Vietnam Seafood Corporation, Tien Phong Plastic Joint Stock Company, Domesco Medical Import Export JSC, Hai Phong Thermal Power JSC, and Quang Ninh Thermal Power Joint Stock Company.
5.The SCIC's divestment strategy is part of the Ministry of Finance's broader plan to restructure state-owned enterprises and wind down holdings, as outlined in Decision No. 690/QD-TTg, signed by the Prime Minister on July 17, 2024.
