EVNGENCO 3 to list 1.1 billion shares on HSX

January 05, 2022 | 11:44
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Power Generation JSC 3 (EVNGENCO 3), which is listed on UpCOM, will switch to list its 1.1 billion shares on Ho Chi Minh City Stock Exchange (HSX), with the charter capital of over $488 million.
EVNGENCO 3 to list 1.1 billion shares on HSX
EVNGENCO 3 will list 1.1 billion shares on HoSE

The move is to increase the liquidity for shares of EVNGENCO 3 and increase investment attraction. Besides this, it is a preparation for Electricity of Vietnam's divestment from EVNGENCO 3.

EVNGENCO 3 has numerous advantages to attract investors. Notably, it is the investor of the Phu My, Vinh Tan 2, and Mong Duong 1 thermal power plants as well as the Buon Kuop hydropower plant – all of which are operating with large revenues.

The company’s Phu My plant prides itself on its sales advantage as production costs are 10.3 per cent lower than the surrounding thermal power plants. In addition, its selling price is 33 per cent lower than the figure on the market.

The financial statement shows that in the first nine months of 2021, the company acquired $1.23 billion in revenues and $110.86 million in after-tax profits, doubling the profit on-year.

By the end of November, revenues were estimated at $1.43 billion, $643.04 million of which comes from Phu My plant. The contributors are Vinh Tan and Mong Duong thermal power plants with revenues of $391.7 million and $338.26 million respectively.

EVNGENCO 3 started to operate as a JSC in October 2018. Shortly thereafter, the shares of EVNGENCO 3 were traded on UpCOM.

By Ha Vy

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