97.2 per cent of EVN Genco 3 shares remained unmarketable

February 10, 2018 | 21:27

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At this morning’s auction, only 2.8 per cent of Power Generation Corporation 3 (EVN Genco 3)’s offered shares was sold, leaving 97.2 per cent of the offered shares unmarketable.

972 per cent of evn genco 3 shares remained unmarketable

Only 2.8 per cent of the shares on offer found buyers

According to information published by the Ho Chi Minh City Stock Exchange, 331 investors won the auction, including 329 individuals and two investors.

After the auction, only 7.45 million of the 267 million offered shares were sold at the average selling price of VND24,802 ($1.09) per share, with the highest and lowest selling prices being VND34,000 ($1.50) and VND24,600 ($1.16). EVN Genco 3 acquired VND184.8 billion ($8.14 million) in proceeds.

Nguyen Van Le, chairman of EVN Genco 3, stated at the auction that the firm will organise a bidding on March 15 to select strategic investors and list on the Unlisted Public Company Market (UpCoM) after three months of the IPO.

EVN Genco 3 currently has a charter capital of VND20.81 trillion ($881.48 million). According to plan, after the equitisation, EVN will hold over 1.06 billion shares or 51 per cent of the charter capital of EVN Genco 3 until the end of 2019. From 2020 onwards, EVN will consider decreasing its holdings in Genco 3 to below 50 per cent.

Regarding the updated information about the strategic investors, according to Dinh Quang Tri, deputy general director of EVN, the four investors come from India, Thailand, South Korea, and the Middle East, with their own advantages.

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