Vingroup to sell 5 percent stake in garment producer Vinatex

By Minh Son   April 1, 2021 | 08:39 am GMT+7
Vietnam's biggest private conglomerate, Vingroup, has registered to sell half of its 10 percent stake in the Vietnam National Textile and Garment Group (Vinatex).
A Vinatex Fashion Center in Hoan Kiem District, Hanoi. Photo courtesy of Vinatex.

A Vinatex Fashion Center showroom in Hoan Kiem District, Hanoi. Photo courtesy of Vinatex.

The company’s share price is around VND17,700 ($0.76), and the sale of 25 million shares is expected to fetch around VND442 billion.

Vingroup acquired the 10 percent stake in 2014 for VND552 billion.

Last year Vinatex’s revenues fell by 26 percent to VND14 trillion and profits by 21 percent to VND569 billion due to the impact of the Covid-19 pandemic.

 
 
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