Related Keywords: global trade, stakes, stitching, Trans-Pacific Partnership, Vietnamese textile industry, Vinatex, weaving and dyeing, yarn production
Vietnam's top textiles manufacturer, Vinatex or Vietnam National Textile and Garment Group to fund restructuring and boost profit plans to sell stakes, in a listing it hopes would accede with the agreement of the Trans-Pacific Partnership (TPP) - a 12-nation pact that would cover a third of global trade.
Vinatex will conduct its IPO on the Ho Chi Minh Stock Exchange on July 22, offering 24.4 percent of the company, or 122 million stakes, at a starting price of 11,000 dong (52 U.S. cents) each.
