Vietnam's Largest State-Owned Coffee Company Plans 2018 IPO
- Government plans to reduce stake by 35 percent to 65 percent
- Vietnam National Coffee to sell shares in parent and units
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Vietnam National Coffee Corp., the nation’s largest state-owned robusta producer, is planning an initial public offering next year as the government reduces its stake in the company.
The IPO will include Vinacafe and 18 units, deputy director general Nguyen Van Minh, said in an interview at a coffee festival in the Central Highland’s city of Buon Ma Thuot. The government also plans to reduce its stake in seven other subsidiaries by 35 percent in separate IPOs at an undetermined time, he said. The process valuing the company is expected to start in July, Minh said.