State investment agency aims to sell stake in Hai Phong Thermal Power this month
The initial price of each share (HND) will be VND26,000 (US$1.09), which means SCIC could expect to receive a minimum of VND1.17 trillion.
The State Capital Investment Corporation (SCIC) will auction its entire 9 per cent stake, or 45 million shares, in Hai Phong Thermal Power JSC (HND).
Interested investors must register to buy the whole offering.
The initial price of each share (HND) will be VND26,000 (US$1.09), which means SCIC could expect to receive a minimum of VND1.17 trillion.
This starting price is 77 per cent higher than HND's opening price of VND14,700 Friday on the UPCoM, Viet Nam’s exchange for unlisted public companies.
The auction is expected to take place at 2.30 pm on April 22.
Hai Phong Thermal Power JSC currently has four major shareholders owning up to 93.18 per cent of the company's charter capital. Its largest shareholder is the Power Generation Corporation 2, holding 51 per cent, followed by Pha Lai Thermal Power JSC with 25.97 per cent and Vinacomin Power Holding Corporation Limited with 7.21 per cent, besides SCIC which holds 9 per cent.
Hai Phong Thermal Power JSC's revenue in 2019 reached VND11.3 trillion, up 18.6 per cent compared to 2018 while post-tax profit soared 176 per cent to nearly VND1.17 trillion.
In 2020, the company hopes to produce more than 7.8 billion kWh and earn a revenue of VND10.5 trillion. — VNS
