Nearly 100 Vietnamese companies will need to hit the road for share auctions by the end of 2020 to meet the government’s target of privatizing state firms. MobiFone is expected to make IPO this year. Many foreign potential investors are waiting for the initial public offering (IPO) of Vietnamese high-profile state-owned enterprises (SOEs) that are named in the country’s list for privatization this year. Representatives of a Japanese group, which declined to be named, said that they are very interested in the privatization roadmap of two SOEs: Dong Nai Food Industry Corporation (Dofico) and Khanh Viet Corporation (Khatoco). Dofico, which was set up in 2005, is one of large and effective multi-industry firms of the southern province of Dong Nai. The firm has an average turnover of some VND2 trillion (US$86.95 million) and the Japanese investor expected that its business performance results could take a leap if having financial aids as well as governance expertise and technologies from foreign investors. With strengths in some business segments that are the same with Dofico, the Japanese investor is interested and expected to buy a large volume of Dofico’s shares. Similarly, the investor is also paying great attention to Khatoco, which is one… Read full this story
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