Illustrative image (Source: VNA)Hanoi (VNA) - PetroVietnam PowerCorporation (PV Power) has decided to make its initial public offering (IPO)this August, the electricity producer announced.
The amount of shares offered for the public saleaccounts for just 3-4 percent of its capital.
It also plans to sell a 45 percent staketo long-term strategic investors this year and can up the staketo 60 percent, depending on the approval of the Government.
The sale of 49 percent stake could fetch about 600million USD for the power producer.
PV Power has met some strategic investorssuch as VinaCapital Investment Management Ltd., BNP Paribas, StandardChartered, Deloitte, Indochina Capital Corporation and Dragon Capital.
PV Power is a member company of the VietnamOil and Gas Group (PetroVietnam) and is currently the second largest powersupplier in Vietnam, behind Electricity of Vietnam (EVN).
The corporation has targeted revenue of 29trillion VND (1.29 billion USD) in 2017, a year-on-year increase of 9.3 percent.— VNA
The amount of shares offered for the public saleaccounts for just 3-4 percent of its capital.
It also plans to sell a 45 percent staketo long-term strategic investors this year and can up the staketo 60 percent, depending on the approval of the Government.
The sale of 49 percent stake could fetch about 600million USD for the power producer.
PV Power has met some strategic investorssuch as VinaCapital Investment Management Ltd., BNP Paribas, StandardChartered, Deloitte, Indochina Capital Corporation and Dragon Capital.
PV Power is a member company of the VietnamOil and Gas Group (PetroVietnam) and is currently the second largest powersupplier in Vietnam, behind Electricity of Vietnam (EVN).
The corporation has targeted revenue of 29trillion VND (1.29 billion USD) in 2017, a year-on-year increase of 9.3 percent.— VNA
VNA
