On 8 December 2017, Prime Minister has signed the decision No 1977/QD-TTg approving the equitization proposal of PetroVietnam Power Corporation ( PV Power) – the Parent company.
Whereby, PV Power will partially sell a certain portion of state-owned capital. The charter capital and the share distribution supposed to be public are as follows:
- Charter capital: 23,418,716,000,000 VND (Twenty three trillions four hundred eighteen billions seven hundred and sixteen millions Vietnam dong);
- PetroVietnam owns 1,194,354,516 shares which is equivalent to 51% of charter capital;
- Preferential shares to be sold to the employees are 2,757,400 shares which is equivalent to 0.118% of charter capital;
- Shares to be sold to potential investors is 676,385,364 shares which is equivalent to 28.882% of charter capital;
- Shares to be sold to the public is 468,374,320 shares which is equivalent to 20% of charter capital.
The IPO will take place at Hanoi Stock Exchange with starting price at 14,400 VND/share.
For the time-being, PV Power is hurrying to implement all the needful pursuant to the regulation and plans to organize the roadshow in around mid of January 2018. We wishes to absorb the interest from as many potential investors as possible in the equitization process of PV Power.
We will continuously update the process of above-said equitization implementation at the website www.pvpower.vn.