Viconship (VGR) plans to offload over 6.3 million shares of Greenport

Viconship (VGR) plans to offload over 6.3 million shares of Greenport

This transaction is set to take place through order matching and/or negotiated trades between June 19 and July 18.

Containers unloaded from a boat at VIP Greenport. — Photo courtesy of the company

Viconship said that it intends to sell more than 6.3 million shares of VIP Greenport JSC (VGR) in a strategic move to reduce its ownership stake in the firm from 74.35 per cent to 64.35 per cent. 

This transaction is set to take place through order matching and/or negotiated trades between June 19 and July 18.

Currently, Viconship holds over 47 million shares of VGR. Should the sale proceed successfully, its holdings will decrease to approximately 40.7 million shares.

The price of VGR shares on June 18 is around VNĐ60,000 per share, suggesting that Viconship could generate VNĐ378 billion (US$14.5 million) from this transaction.

Recently, Green Port has announced a shareholder consultation process. The agenda includes a proposal from the Board of Directors to adjust the profit distribution plan for 2024, including a proposed dividend payout ratio of 70 per cent, comprising 40 per cent in cash and 30 per cent in stock.

In the first quarter, Greenport reported a net revenue of over VNĐ256.3 billion, up 5.8 per cent year-on-year. After accounting for taxes and fees, the company achieved a net profit of nearly VNĐ111.3 billion, reflecting a 17.9 per cent growth compared to the previous year. 

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