EVN Finance Joint Stock Company will debut 250 million shares on the Unlisted Public Company Market (UPCoM) on August 7, coded EVG, with a reference price of VND12,200 (US$0.53) per share.

At this price, the company is valued at VND3.05 trillion ($132.6 million).

The financial arm of the Viet Nam Electricity (EVN) was formed in September 2008 with charter capital of VND2.5 trillion. It is the second largest financial institutions (apart from banks) in the market after FE Credit, the consumer finance arm of VPBank.

EVN Finance operates in capital mobilization, credit and investment, inter-bank market trading and services.

An Binh Commercial Joint Stock Bank is the largest stakeholder with 8.4 per cent, followed by EVN with a holding of 7.5 per cent. Foreign investors hold only 0.03 per cent.

The firm’s net profit has been rising since 2013, and it posted post-tax profit of VND180.4 billion in 2017, a 9-per-cent year-on-year increase.

In the first six months of 2018, it announced a pre-tax profit of VND102.6 billion, down 19 per cent against the same period of last year. The earning per share (EPS) ratio was VND331.

As of June 2018, its total assets were worth VND18.7 trillion, including VND3.9 trillion in deposits at other financial institutions, VND8.7 trillion in loans to customers and VND4.95 trillion in securities investments. — VNS