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EVNGENCO2 to launch IPO in June

Update: January, 11/2018 - 15:00
A view of Ô Môn 1 Thermopower plant invested by EVNGENCO 2 in the in the Mekong Delta City of Cần Thơ. — Photo
Viet Nam News

HÀ NỘI — The Power Generation Corporation 2 (EVNGENCO2) is taking necessary steps to conduct its initial public offering (IPO) in June, according to newly-appointed director general Trương Hoàng Vũ. 

Vũ mentioned the plan at the corporation’s conference to review its performance in the Mekong Delta City of Cần Thơ on Wednesday. 

The corporation has completed value evaluation and selected consultancies for developing its equitisation plan, he said. 

EVNGENCO2, a member of Electricity of Việt Nam (EVN), produced more than 16.74 billion kWh of electricity last year, up 10.28 per cent from 2016.

It accounted for some 13.67 per cent of EVN’s electricity output and 8.49 per cent of Việt Nam’s total power generation. 

Ending 2017, the company earned more than VNĐ22.9 trillion (US$916 million) in total revenue and nearly VNĐ3.14 trillion ($125.6 million) in profit. It paid over VNĐ2.1 trillion ($84 million) to the State coffer. 

The power producer has set a target of generating over 16.78 billion kWh of electricity this year, up 0.25 per cent from 2017.

It also plans to put Sông Bung 2 Hydropower Plant into operation and join the country’s competitive power market in 2018. — VNS



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