Home / Knowledge / News / Apparel/Garments / Vinatex to raise capital through public issue

Vinatex to raise capital through public issue

06
Jan '12
Vietnam National Textile and Garment Group (Vinatex) – the largest entrepreneur in Vietnamese garment industry – plans to raise capital this year by issuing equity shares of its remaining affiliates and holding group.

The capital so raised would be utilized for expanding production capacity and improving Vinatex's competitive edge in international market, according to Le Tien Truong, Deputy Director General of the Group.

Currently, the charter capital of Vinatex is about VND 3.4 trillion (US$ 162 million) and its revenue through exports is around 14 times more. Hence, privatization would play a vital role in Vinatex's development strategy in 2012, Mr. Truong said.

He added that it would be easier to privatize the affiliates of the Group as majority of them are small firms. He mentioned that Vinatex would try to complete the privatization procedure for the entire group this year, although it would be a difficult task.

Besides privatization, Vinatex plans to focus on market forecasting and would explore new markets like Russia and Canada this year. Despite economic slowdown in its key markets last year, Vinatex was able to achieve good business due to market forecasting, Mr. Truong said.

He stressed that Vinatex would take benefit of free trade agreements with Japan, China and South Korea, as these are vital in the current scenario when its major garment importing nations like the US and the EU are facing economic problems.

In order to maintain its focus exclusively on the textile and garment sector, Vinatex also plans to withdraw all its existing capital of VND 170 billion from its non-core businesses.

Moreover, the Group will invest in training facilities as well as in latest machinery and technologies.

On the domestic front, the Group plans to add 14 more Vinatex-Mart outlets taking the tally of its stores to 75.

Last year, Vinatex grossed export revenue of US$ 2.4 billion, registering a rise of 26 percent year-on-year. The Group is now targeting a 14 percent growth in export value this year over last year's revenues.

Vinatex contributes about 17 percent to Vietnam's overall textile and garment industry exports.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

Bangla Tariff Commission fears grave impact on China trade

The impact of the coronavirus outbreak on Bangladesh-China trade is...

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Interviews View All

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Alon Moshe,

Alon Moshe

Israel-based Twine Solutions is a technology start-up that has developed a ...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search