Tuesday, September 29 2020

VietNamNews

EVN to auction shares in Đông Anh Electrical Equipment Corporation

Update: September, 01/2020 - 08:28

 

A 220kv transformer of Đông Anh Electrical Equipment Corporation JSC. EVN is now the largest shareholder of Đông Anh Electrical Equipment. — Photo courtesy of the company

HÀ NỘI — Vietnam Electricity (EVN) plans to auction more than 13 million shares in its affiliate Đông Anh Electrical Equipment Corporation JSC (TBD).

Interested investors must register to buy the whole lot.

The starting price will be VNĐ153,100 per share, which means the whole lot is valued more than VNĐ2 trillion.

The offered shares account for 46.47 per cent of total outstanding voting shares of Đông Anh Electrical Equipment.

EVN is now the largest shareholder of Đông Anh Electrical Equipment. The other major shareholder is Electrical Equipment Joint Stock Company, which holds more than 7 million shares of TBD, equivalent to 24.89 per cent.

Đông Anh Electrical Equipment Corporation is specialised in the supplies of products for the electrical industry, including transformers, electrical wires, electrical materials, electrical engineering materials and electrical equipment products.

It also provides services of installation, adjustment, maintenance, repair, overhaul and renovation of electrical equipment.

On the stock market, TBD shares are currently traded at around VNĐ88,100 per share, down by about 20 per cent compared to the beginning of this year. — VNS

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