GENCO 3's IPO will be held next month |
Deputy Prime Minister Vuong Dinh Hue signed Decision No.2100/QD-TTg on December 27, 2017 approving the equitisation plan of GENCO 3. The company will offer 2,080,900,000 shares based on its initial charter capital of VND20,809 billion ($915 million). The offer will include:
The criteria for selecting a strategic investor focus on finding a partner capable of providing solutions to develop the company after equitisation by transferring technology, training human resources, improving financial competitiveness and corporate governance, as well as supplying materials.
The number of strategic partners is set at a maximum of three. They should commit to develop the business sector and brand name of the company for at least three years and to keep the shares for five years.
The share price for strategic investors is not lower than the average of the successful auctions on the day of the IPO, which will be held on February 9, 2018.
IPO of heavyweight power producers electrifies market
Power Generation Corporation 3 (EVNGenco 3) of Electricity of Vietnam (EVN) will put VND6.6 trillion ($290.6 million) worth of shares on sale at its initial public offering (IPO) and offer stakes for strategic investors, providing another investment opportunity for investors in the electricity sector, along with PV Power’s offers. |
Closer look at three companies to be divested by VNPT and EVN
In late August, Vietnam Posts and Telecommunications Group (VNPT) and Electricity of Vietnam (EVN) will divest their capital in three major companies with a total charter capital amount of VND1 trillion ($44 million). |
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