Wednesday, 17/01/2018 17:35 (GMT+7)
The PetroVietnam Power Corporation (PV Power) on January 16th organized a roadshow to announce information for its IPO (initial public offering) in the end of January, as well as selection of strategic shareholders for privatization.
Photo for illustrationEarlier, on December 8th, 2017, the Government signed Decision 1977/QD -TTg approving the privatization plan of parent company - subsidiaries of PV Power.
As planned, the State holds a 51% share of charter capital, shares sold to employees occupies 0.118%, shares publicly auctioned make up 20%, and shares sold to strategic investors take 28.882%.
According to PV Power, in 2017, the Corporation managed and operated stable power plant production, with absolute safety and high efficiency.
Electricity output reached 20,581 million kWh, 2.4% higher than the plan assigned by the Ministry of Industry and Trade, and its revenue posted VND30.987 trillion, 106% of the plan. Profit before tax amounted to VND2.503 trillion, 183% of the plan. It contributed VND1.374 trillion to State budget, 10% higher than 2016.
General Director of PV Power Nguyen Xuan Hoa said that the Corporation has met with over 100 investors and received letters to become strategic shareholders of 30 investors.
Earlier, PV Power held roadshows in Singapore, Japan, and the Republic of Korea./.
BTA