24 railway businesses to launch IPOs

The Ministry of Transport has approved a project to equitize 24 subsidiaries under the Vietnam Railway Corporation (VRC) by the end of this year.

The 24 companies are expected to complete initial public offerings before December 31.

They comprise 20 railway infrastructure management companies, Hanoi Railway Transport Company, Saigon Railway Transport Company, Gia Lam Train Company and Di An Train Company.

According to plan, VRC has only two months to offer shares for sale, organize shareholder meetings and solve redundant workers after equitization for the subsidiaries to operate under joint stock model from January 1 next year.

By T. Van – Translated by Hai Mien

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