Illustrative photo (Photo: VNA) Hanoi (VNA) – PetroVietnam Power Corporation (PV Power), a wholly-ownedsubsidiary of the state-owned energy giant PetroVietnam, said it will sell a 49percent stake late this year with priority given to strategic investors.
The corporation is giving a push to the equitisation progress, and the initialpublic offering (IPO) is expected to be carried out in October, 2017, Chairmanof PV Power Management Board Ho Cong Ky said at a press conference to announcethe company’s business performance on June 14.
Equitisation in 2017 and 2018 is considered to be a little bit difficult asstakes of three large oil and gas corporations are on IPO in this year. Thus,the amount of PV Power shares offered to the public sale accounts for only 4-5percent of its capital and the remaining will be sold to long-term strategicinvestors.
PV Power General Director Nguyen Xuan Hoa said that over 100 businesses haveshown their interest in acquiring PV Power stakes, however, the company isconsidering ten large investors from Japan, the Republic of Korea, ASEAN, theMiddle East and the EU.
PV Power, established in 2007, is the second largest power producer in Vietnamafter the Electricity of Vietnam (EVN). The firm produces and sells electricityas well as repairs and maintains power plants. It also provides equipment andspare parts, sells coals to power plants and develops power projects.
The company has a chartered capital of 21.7 trillion VND (960 million USD).Currently it is operating eight power plants, including four gas-fired powerplants, three hydropower plants and one coal-fired thermal power plant with a totaldesigned capacity of 4,208 MW.
PV Power contributed 21 billion kWh to the national grid in 2016. The companywill invest in nine gas-fired power projects and four coal-fired thermalprojects with total capacity of over 10,000 MW in the coming time.-VNA
The corporation is giving a push to the equitisation progress, and the initialpublic offering (IPO) is expected to be carried out in October, 2017, Chairmanof PV Power Management Board Ho Cong Ky said at a press conference to announcethe company’s business performance on June 14.
Equitisation in 2017 and 2018 is considered to be a little bit difficult asstakes of three large oil and gas corporations are on IPO in this year. Thus,the amount of PV Power shares offered to the public sale accounts for only 4-5percent of its capital and the remaining will be sold to long-term strategicinvestors.
PV Power General Director Nguyen Xuan Hoa said that over 100 businesses haveshown their interest in acquiring PV Power stakes, however, the company isconsidering ten large investors from Japan, the Republic of Korea, ASEAN, theMiddle East and the EU.
PV Power, established in 2007, is the second largest power producer in Vietnamafter the Electricity of Vietnam (EVN). The firm produces and sells electricityas well as repairs and maintains power plants. It also provides equipment andspare parts, sells coals to power plants and develops power projects.
The company has a chartered capital of 21.7 trillion VND (960 million USD).Currently it is operating eight power plants, including four gas-fired powerplants, three hydropower plants and one coal-fired thermal power plant with a totaldesigned capacity of 4,208 MW.
PV Power contributed 21 billion kWh to the national grid in 2016. The companywill invest in nine gas-fired power projects and four coal-fired thermalprojects with total capacity of over 10,000 MW in the coming time.-VNA
VNA
