Vietnamese national shipowner Vinalines is offloading its stake in one of the country's banks. Vinalines will sell 20.1m shares in Vietnam Maritime Commercial Joint Stock Bank via auction. No price was mentioned. Bank was established by the government's maritime department.
Vinalines' stake is only just over 1% and it does not have an administrative role.
Vinalines ran up huge debts in the financial crash, but has been slimmed down and refinanced to focus on core shipping operations.