Vinacomin Power Holding Corporation Limited, a State-owned subsidiary of Vietnam National Coal and Mineral Industries Group (Vinacomin), will debut 680 million shares on the Unlisted Public Company Market (UPCoM) on December 15.
Vinacomin Power Holding Corporation will debut 680 million shares on the UPCoM on December 15. (Photo: www.ndh.vn)
Hanoi (VNA) - Vinacomin Power Holding Corporation Limited, aState-owned subsidiary of Vietnam National Coal and Mineral Industries Group(Vinacomin), will debut 680 million shares on the Unlisted Public CompanyMarket (UPCoM) on December 15.
Thiswas announced by the Hanoi Stock Exchange.
Theshares, under code DTK, will start the first trading day at 14,000 VND (0.62USD) per share.
Atthis price, the company’s market capitalisation will reach 9.52 trillion VND,making it among the highest-valued stocks on the UPCoM.
Thepower company made its initial public offering (IPO) last year, with 236.4million shares put up for sale, a record in terms of volume of shares put upfor auction at that time. However, only 1.2 million shares, equivalent to lessthan 1 percent, were sold.
Vinacomin,currently, still holds over 99 percent of the company’s charter capital.
Thepower company, established in 2009, engages in development, construction andmanagement of thermal and hydro power plants. It is a major electricityproducer in the local power market and is implementing 14 power projects with atotal capacity of 5,880MW.
Ithas five subordinate companies, two subsidiary firms and four associatecompanies with holdings of less than 50 percent of capital.
EndingSeptember 2016, Vinacomin Power reported a loss of 228 billion VND, lifting itscumulative losses to 1.14 trillion VND.
Itsequity capital was nearly 5.8 trillion VND and total asset value reached 26.4trillion VND.
TheUPCoM, which went live on June 2010, is the market for unlisted or delistedpublic companies under the management of the Hanoi Stock Exchange. There arecurrently 387 stocks here with daily trading volume of some five million sharesworth over 100 billion VND.-VNA
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Vinacomin Power Holding Corporation will debut 680 million shares on the UPCoM on December 15. (Photo: www.ndh.vn) 
