After years of stop-and-go efforts at privatizing its state-owned enterprises, Vietnam's latest push appears set to successfully offload some shares and boost its stock market.
The fresh move came last week as the government ordered its wealth fund, State Capital and Investment Corp. (SCIC) to sell stakes in 10 companies, including Vinamilk, the country's biggest listed company.
Analysts expect the sales to take place next year with the divestments expected to raise more than $3 billion.
"Vinamilk is the one stock that everyone wants to own in Vietnam," Kevin Snowball, CEO of PXP Vietnam Asset Management, said last week. "That will command a premium price.