Plan to increase capital of subsidiaries, participate more in the stock market

SCIC: Plans to increase capital of subsidiaries, participate more in the stock market

Last week, Decision 690 on the Project to Restructure the State Capital Investment Corporation (SCIC) was officially issued. Divestment and investment activities are expected to be promoted in the coming time.

SCIC will speed up the divestment process in enterprises.

At the annual "July Dialogue" program on the stock market with the theme "Upgrading, calling for capital and developing institutional investors", Mr. Le Thanh Tuan - Deputy General Director of SCIC said that the Prime Minister has recently issued two decisions including the Decision approving the development strategy of the State Capital Investment Corporation (SCIC) for the period 2025 - 2030 and orientation to 2035 and Decision 690 on the Project on restructuring the State Capital Investment Corporation (SCIC). The above project has pointed out the group of enterprises that SCIC holds, the group that SCIC will divest capital in the coming time.

“In the future, after the Prime Minister approves, we will speed up the divestment process in enterprises. Among them, many listed enterprises are attracting the attention of foreign investors, such as Tien Phong Plastic, Domesco and many corporations such as Biwase (BWE), Licogi Corporation (LIC), Vietnam Seafood Corporation - JSC (SEA). Cases such as VNSteel (TVN), Vinatex (VGT) will also be considered for divestment in the coming time after we restructure some operations and finalize capital for the second time,” said a SCIC representative.

Regarding investment activities, from now until 2025, SCIC will continue to focus on taking over the right to represent state capital ownership in ministries and branches, such as the Ministry of Industry and Trade and the Ministry of Culture, Sports and Tourism.

At the same time, Mr. Tuan also said that SCIC will promote investment in the stock market, first focusing on investing in businesses within SCIC's own ecosystem.

Specifically, SCIC recently invested 500 billion VND to buy additional shares of the Military Bank. In the near future, the Corporation will invest in improving the facilities of the Transport Hospital, and at the same time invest in other units such as FPT Telecom to promote the construction of data centers,...

SCIC has requested SCIC Investment One Member Limited Liability Company (SIC) to develop a capital increase plan so that SCIC, through this unit, will participate more actively in the stock market. SCIC will also coordinate with enterprises in the ecosystem of the State Capital Management Committee at Enterprises to invest in key areas such as infrastructure, ports, data centers, etc.

SCIC will divest all capital in 76 enterprises.

According to the Project on restructuring the State Capital Investment Corporation (SCIC), the State Capital Investment Corporation will continue to be a single-member limited liability company with 100% of charter capital held by the State until 2025.

Enterprises in which SCIC holds 100% of charter capital continue to include one enterprise, SCIC Investment One Member Limited Liability Company.

SCIC continues to hold 65% or more of charter capital in 7 enterprises and SCIC holds 50% or more of charter capital in 7 enterprises.

At the same time, there will be 76 enterprises subject to full divestment (74 enterprises) and equitization without holding capital after equitization (2 enterprises). In addition, 11 enterprises will be restructured according to legal regulations (11 enterprises) and some enterprises will be restructured according to separate plans.

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