Cam Ranh Port on IPO calendar next week

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 Cam Ranh port in Khanh Hoa Province is set to have IPO on March 16. File photo

Cam Ranh Port, a major deepwater port in central Vietnam, is seeking to raise VND63 billion at its initial public offering on March 16.
Cam Ranh Port Limited Liability Company, which operates the port, prices the offering of 6.3 million shares at VND10,000 a share, Vietnam News Agency reported.
The company hopes to increase its charter capital to VND264.5 billion ($12.17 million) after the IPO.
The state-owned shipping company Vinalines will retain 51 percent of Cam Ranh port's shares after the IPO. 
A main port in the central region, Cam Ranh saw its earnings, mainly from cargo services, increase to VND119.2 billion ($5.48 million) in 2014 from nearly VND72.95 billion ($3.35 million) in 2011.
The company expected to earn VND161.3 billion ($7.43 million) in sales next year, and VND223.3 billion ($10.28 million) in 2018.

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