Despite the broader market’s volatility, shares of Vietnam Maritime Corporation (VIMC) surged dramatically. The stock hit its upper limit, reaching VND 64,200 per share, propelling VIMC’s market capitalization to VND 77 trillion (~USD 3.08 billion). This remarkable rally added over VND 10 trillion to its valuation in just one trading session.
VIMC’s liquidity also improved significantly, with over 87,600 shares changing hands—a fivefold increase compared to its one-year average. Historically, the stock has had low liquidity due to its concentrated ownership structure, with the state currently holding nearly 99.47%.
VIMC shares became highly sought-after following the company’s announcement of its state capital divestment plan. According to a January 10 advisory letter, VIMC aims to increase its charter capital and gradually reduce state ownership to 65%, enhancing competitiveness and funding key projects. Currently, the state holds 99.469% of its VND 12,005 billion charter capital.
This marks one of the first state-owned enterprises to publicly outline a reduction in state ownership since Resolution 79 on state economic development was issued.
The corporation will engage advisors to prepare for public offerings, strategic investor placements, capital increases via shareholder equity, and HOSE listing.
VIMC currently fails to qualify as a public company due to insufficient free-float shares. Regulatory requirements mandate at least 10% of shares must be held by a minimum of 100 non-major investors.
Established in 1995 under Decision 250/TTg, VIMC (formerly Vinalines) is Vietnam’s maritime industry leader. Its core operations span maritime transport, port management, and maritime services, with container shipping as a key focus.
VIMC operates the nation’s largest fleet, accounting for 25% of Vietnam’s total vessel capacity. Its fleet includes large bulk carriers up to 73,000 DWT, transporting 60% of Vietnam’s annual imports and exports. This significantly expands Vietnam’s trade connections globally.
The company comprises 34 subsidiaries, including 16 port operators managing over 13,000 meters of berths (30% of national capacity). Key ports include Hai Phong, Saigon, Da Nang, and Quy Nhon.
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