Five companies will sell their stakes in A Vuong Hydropower Joint Stock Company via a share auction at the Ha Noi Stock Exchange on August 22.— Photo cafef.vn
The shareholders are the Central Power Corporation, the Power Generation Corporation 1, EVN Hà Nội, Hải Phòng Power Company Limited and Đà Nẵng Power Company Ltd.
The companies will offload more than 5.66 million shares in A Vương Hydropower JSC, worth VNĐ56.6 billion (US$2.5 million), at a starting price of VNĐ17,000 (75 US cents) per share.
A Vương Hydropower JSC was founded in 2007 with VNĐ1.12 trillion in charter capital. The company is headquartered in the central province of Quảng Nam.
A Vương runs several hydropower projects such as the A Vương Hydropower Plant and the Sông Bung Hydropower Plant, which generate 815 million kWh and 199 million kWh of electricity each year.
In addition, the company provides testing machines for industrial factories and oil-filtering devices for hydropower plants.
A Vương hopes to earn VNĐ573.8 billion in net revenue in 2017, VNĐ124.3 billion in pre-tax profit and provide a dividend payout rate of 9 per cent.