Approval has been sought by the Vietnam National Textile and Garment Group to decrease the Government stakes in 22 subsidiaries through selling of shares valued at VND111 billion (US $6.9 million).
Plan which was submitted by Vinatex, biggest textile and garment maker in Vietnam to Industry Ministry was part of the restructuring scheme for 2006.
Ministry report informed that the shares would be sold by October even as it did not divulge any details regarding the ownership status of the Government.
Vinatex, by the end of 2005 had completely or partially done equity of 53 subsidiaries out of 60.
It informed that the stock listing of three garment units would be done in 2006 while the equity of the remaining would be completed by 2007 as the group requires $10 billion to carry out process by 2010.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
