PetroVietnam Power Corp to divest from affiliates

PetroVietnam Power Corporation (PV Power) plans to sell its entire  二. 八 八 million shares or  七. 八 五 percent stake in affiliate EVN International JSC in Hà Nội on August  一.— Photo oilgas.vn

HÀ NỘI — PetroVietnam Power Corporation (PV Power) plans to sell its entire  二. 八 八 million shares or  七. 八 五 percent stake in affiliate EVN International JSC in Hà Nội on August  一.

The shares will be sold at a starting price of VNĐ 一0, 八00 ($0. 四 八) each, according to auction organiser the Hà Nội Stock Exchange (HNX).

HNX also added that registration and deposit submissions for the auction would be accepted between July  四 and  二 五.

PetroVietnam Power would also sell  一00,000 shares of PetroVietnam Electrical Mechanical Joint Stock Company on July  一 二 at a starting price of VNĐ 一0, 九00 each.

These sales are part of PV Power’s restructuring plan for this year. The firm, the second largest power producer in Việt Nam, is planning to have an initial public offering this October. — VNS