Five companies will sell their stakes in A Vuong Hydropower Joint Stock Company via a share auction at the Ha Noi Stock Exchange on August 22.— Photo cafef.vn

Five companies will sell their stakes in A Vuong Hydropower Joint Stock Company via a share auction at the Ha Noi Stock Exchange on August 22.

The shareholders are the Central Power Corporation, the Power Generation Corporation 1, EVN Ha Noi, Hai Phong Power Company Limited and Da Nang Power Company Ltd.

The companies will offload more than 5.66 million shares in A Vuong Hydropower JSC, worth VND56.6 billion (US$2.5 million), at a starting price of VND17,000 (75 US cents) per share.

A Vuong Hydropower JSC was founded in 2007 with VND1.12 trillion in charter capital. The company is headquartered in the central province of Quang Nam.

A Vuong runs several hydropower projects such as the A Vuong Hydropower Plant and the Song Bung Hydropower Plant, which generate 815 million kWh and 199 million kWh of electricity each year.

In addition, the company provides testing machines for industrial factories and oil-filtering devices for hydropower plants.

A Vuong hopes to earn VND573.8 billion in net revenue in 2017, VND124.3 billion in pre-tax profit and provide a dividend payout rate of 9 per cent. — VNS