Vietnam Rubber Group’s equitisation plan approved

The State will retain three billion shares, equivalent to 75 percent of VRG’s chartered capital of VND40 trillion (USD1.76 billion) after equitisation.

The Group will auction off more than 475 million shares, equivalent to 11.88 percent of its total chartered capital to the public.

Another 475 million shares will be offered to strategic investors while the remainder of offloaded shares will be sold to the group’s employees and trade union.

VRG shares will be offered at an initial price of VND13,000 (USD0.57) each. The Ministry of Agriculture and Rural Development will represent the State ownership at the VRG.

The Prime Minister assigned Minister of Agriculture and Rural Development to choose strategic domestic investors after the company’s public auction./.