Monday, September 26 2016

VietNamNews

PetroVietnam Power Corp to divest from affiliates

Update: July, 08/2016 - 19:04
PetroVietnam Power Corporation (PV Power) plans to sell its entire 2.88 million shares or 7.85 percent stake in affiliate EVN International JSC in Hà Nội on August 1.— Photo oilgas.vn

HÀ NỘI — PetroVietnam Power Corporation (PV Power) plans to sell its entire 2.88 million shares or 7.85 percent stake in affiliate EVN International JSC in Hà Nội on August 1.

The shares will be sold at a starting price of VNĐ10,800 ($0.48) each, according to auction organiser the Hà Nội Stock Exchange (HNX).

HNX also added that registration and deposit submissions for the auction would be accepted between July 4 and 25.

PetroVietnam Power would also sell 100,000 shares of PetroVietnam Electrical & Mechanical Joint Stock Company on July 12 at a starting price of VNĐ10,900 each.

These sales are part of PV Power’s restructuring plan for this year. The firm, the second largest power producer in Việt Nam, is planning to have an initial public offering this October. — VNS

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