GM_EN_PC_ARTICLE_LEFT_FLOATING
GM_EN_PC_ARTICLE_RIGHT_FLOATING
GM_EN_PC_ARTICLE_TOP_BANNER

PV Power to list shares on HoSE

VOV.VN - PetroVietnam Power Corporation, a subsidiary of the State-run Vietnam Oil and Gas Group, is tipped to list more than 2.34 billion shares on the Ho Chi Minh City Stock Exchange on January 14.

GM_EN_PC_ARTICLE_OUSTREAM_VIDEO

pv power to list shares on hose hinh 0
Ho Cong Ky – Chairman of  the Board of Directors of PV Power speaks at the meeting. (Photo: Hong Quang)
As many as 2,341,871,600 shares with the code POW will be listed on the southern bourse at a price of VND10,000 (43.79 US cents). In total, this move is expected to gain market capitalisation of over VND23.418 trillion (US$1.02 billion), PetroVietnam Power Corporation (PV Power) stated at a meeting held in Hanoi on January 8.

The listing of PV Power gained the approval of the Ho Chi Minh City Stock Exchange (HoSE) last December. Back in January 2018, PV Power made VND6.99 trillion ($306 million) from selling 468.37 million shares via its initial public offering, equivalent to some 20 per cent of its charter capital.

This year the business plans to execute the feasibility study of liquefied natural gas (LNG) - fired Nhon Trach 3 and Nhon Trach 4 power plants while speeding up negotiations on LNG supply deals, purchase power agreement, and the allocation of capital for the two power stations as scheduled.

The two LNG-fired power plants, with a combined capacity of up to 1,500 MW, were added to the revised national power plan VII following a decision issued by the government last year. The firm has so far finalised the pre-feasibility study of these plants.

GM_EN_PC_ARTICLE_Native_ads

PV Power plans to foster its restructuring and divestment from its subsidiaries in conformity with the approved scheme in 2019 while putting a focus on allocating financial resources to carry out the corporation’s growth targets.

The corporation will strive to generate some 21.6 billion kWh throughout 2019, expecting to reap more than VND32.769 trillion (US$1.43 billion) in revenues and VND2.275 trillion (US$99.62 million) in after-tax profits.

GM_EN_PC_ARTICLE_Inpage_Banner

Last year, PV Power produced over 21 billion kWh and earned VND33.363 trillion (US$1.46 billion), 6% higher than the figure set for the year. PV Power also raked in VND2.351 trillion (US$102.9 million) in pre-tax profits.

Hong Quang

Related news

GM_EN_PC_ARTICLE_Article_1
GM_EN_PC_ARTICLE_Article_2
GM_EN_PC_ARTICLE_Middle_1
GM_EN_PC_ARTICLE_Middle_2
GM_EN_PC_ARTICLE_BOTTOM
GM_EN_PC_ARTICLE_POPUP