The Prime Minister has signed a decision approving an equitisation plan designed for the Power Generation Corporation 2 (EVNGENCO 2), a subsidiary of the Vietnam Electricity (EVN).
Hanoi, December 30 (VNA) – The Prime Minister has signed adecision approving an equitisation plan designed for the Power GenerationCorporation 2 (EVNGENCO 2), a subsidiary of the Vietnam Electricity (EVN).
Under the plan, part of the company’s State capital owned byEVN will be sold to reduce the EVN’s stake to 51 percent from the current 100percent.
The date set for EVNGENCO 2’s initial public offering willbe no later than February 17 next year. The company do not have to carry outits evaluation process again.
EVNGENCO 2 is among the six State corporations due forequitisation this year.
The company was established in 2012 with a charter capitalof 11.7 billion VND. Vietnam Electricity (EVN) holds 100 percent of its chartercapital.
Its value was determined at 46.1 trillion VND (nearly 2billion USD) as of January 1, 2019, of which the real value of State capital ismore than 26.6 trillion VND./.
The Electricity of Vietnam (EVN)'s Power Generation Corporation 1 (EVNGENCO 1) produced nearly 12.4 billion kWh of electricity in the last five months, fulfilling 40.8 percent of the target set for the year.
The value of the Power Generation Corporation 2 (EVNGENCO 2), a subsidiary of Vietnam Electricity, has been determined at 46.1 trillion VND (2 billion USD) as of January 1, 2019, of which the real value of State capital is more than 26.6 trillion VND.
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Illustrative photo (Source: VNA) 
