PV Power prepares for August IPO

PetroVietnam Power Corporation (PV Power) will make its initial public offering (IPO) this August, the electricity producer announced.

Monday, April 24, 2017 10:56

The Ca Mau 1 Power Plant of PV Power. (Photo: VNA)

Hanoi (VNA) – PetroVietnam Power Corporation (PV Power) will make itsinitial public offering (IPO) this August, the electricity producer announced.

TheMinistry of Industry and Trade has approved the business valuation of thecompany, said a representative of PV Power. It has worked to devise anequitisation plan and seek strategic investors for the IPO.

PVPower is a wholly-owned unit of the Vietnam Oil and Gas Group, with current chartercapital at 21.7 trillion VND (958.7 million USD).

Establishedin May 2007, PV Power operates eight power plants with combined capacity ofover 4,208 MW.

Itgenerates more than 16 billion kWh of electricity annually, 15 percent of thenation’s electricity.

Duringits 10-years of operation, PV Power has provided 136 billion kWh of electricityto the national grid, earning 8.6 trillion VND (378.6 million USD) of profit.-VNA

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#PV Power #initial public offering #business evaluation #electricity producer #power plants #equitisation #strategic investors

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