Vietnam Electricity (EVN) will auction more than 13 million shares in its affiliate Dong Anh Electrical Equipment Corporation JSC (EEMC).
Vietnam Electricity (EVN) will auction more than 13 million shares in its affiliate Dong Anh Electrical Equipment Corporation JSC (EEMC) at the Hanoi Stock Exchange (HNX) on September 28.
The starting price will be 153,100 VND (6.58 USD), which means the whole lot is valued more than 2 trillion VND. Interested investors must register to buy the whole lot.
The offered shares make up 46.47 percent of total outstanding voting shares of the JSC.
EVN is now the largest shareholder of the company. The other major shareholder is Electrical Equipment Joint Stock Company, which holds more than 7 million shares of TBD, equivalent to 24.89 percent.
Dong Anh Electrical Equipment Corporation is specialised in the supply of products for the electrical industry, including transformers, electrical wires, electrical materials, electrical engineering materials and electrical equipment products.
It also provides services of installation, adjustment, maintenance, repair, overhaul and renovation of electrical equipment.
EEMC began trading its shares, coded TBD, on the Unlisted Public Company Market (UPCoM) on October 6, 2014, with a total amount of over 28.2 million shares.
For this year, the company targets 2.3 trillion VND in revenue, 120 billion VND in post-tax profit and 15 percent in dividend payout ratio.
In 2019, EEMC recorded a revenue of more than 2.34 trillion VND, and post-tax profit of over 118 billion VND.