At this morning’s auction, only 2.8 per cent of Power Generation Corporation 3 (EVN Genco 3)’s offered shares was sold, leaving 97.2 per cent of the offered shares unmarketable. Only 2.8 per cent of the shares on offer found buyers According to information published by the Ho Chi Minh City Stock Exchange, 331 investors won the auction, including 329 individuals and two investors. After the auction, only 7.45 million of the 267 million offered shares were sold at the average selling price of VND24,802 ($1.09) per share, with the highest and lowest selling prices being VND34,000 ($1.50) and VND24,600 ($1.16). EVN Genco 3 acquired VND184.8 billion ($8.14 million) in proceeds. Nguyen Van Le, chairman of EVN Genco 3, stated at the auction that the firm will organise a bidding on March 15 to select strategic investors and list on the Unlisted Public Company Market (UpCoM) after three months of the IPO. EVN Genco 3 currently has a charter capital of VND20.81 trillion ($881.48 million). According to plan, after the equitisation, EVN will hold over 1.06 billion shares or 51 per cent of the charter capital of EVN Genco 3 until the end of 2019. From 2020 onwards, EVN will consider decreasing its holdings in Genco 3 to below 50 per cent. Regarding the updated information about the strategic investors, according to Dinh Quang Tri, deputy general director of EVN, the four investors come from India, Thailand, South Korea, and the Middle East, with their own advantages. By Kim Oanh
The shares will be listed on the HCM Stock Exchange (HOSE) with the initial auction price of VND24,600 (US$1.08) per share. Genco 3, which is fully owned by Electricity of Vietnam (EVN), expects to receive VND6.6 trillion (US$290.7 million) from the IPO. EVN on December 28 said Deputy Prime Minister Vuong Dinh Hue signed Decision 2100/QĐ-TTg approving the privatisation plan of Genco 3 one day earlier. The approved privatisation plan is to maintain its current State-owned capital and issue shares to increase its chartered capital. Genco 3’s charter capital is VND20.8 trillion, 51% of which will be owned by EVN.…... [read more]
Four foreign investors from India, Thailand, the Republic of Korea and the Middle East registered to buy 36 percent of the charter capital at the Power Generation Corporation 3 (GENCO 3) to become its strategic investors. Vinh Tan 2 Thermo-power Plant under the Power Generation Corporation 3 (Genco 3)’s management. (Photo: baodautu.vn)Dinh Quang Tri, deputy general director of the Electricity of Vietnam (EVN) announced the development at the roadshow to introduce investment opportunities in GENCO 3 held in Hanoi on January 25. “All of the foreign investors are big firms,” Tri said.For example, the Indian investor has electricity capacity of…... [read more]
A unit of monopoly electricity provider Electricity of Vietnam (EVN) has unveiled a plan to build two solar power plants in the south-central province of Ninh Thuan with a combined capacity of 350 MW. It expects to begin construction in the second quarter of next year and put the plants into operation in the first quarter of 2021. It will also use the site for hi-tech agricultural production. Genco 3 currently operates 12 thermal and hydro power plants around the country with a combined capacity of 6,549 MW, accounting for 17 per cent of the country’s power production. Foreign businesses…... [read more]
Deputy Prime Minister Vuong Dinh Hue signed Decision No.2100/QD-TTg on December 27, 2017 approving the equitisation plan of GENCO 3. The company will offer 2,080,900,000 shares based on its initial charter capital of VND20,809 billion ($915 million). The offer will include: 1,061,300 thousand shares (51 per cent of the charter capital) owned by EVN Corporation; 3,424,100 shares (0.1645 per cent) will be sold to employees; 267,051,900 shares (12.8355 per cent) will be auctioned publicly at the starting price of VND24,600 ($1.08); 749,124,000 shares (36 per cent) will be sold to strategic investors after the public auction.The criteria for selecting a…... [read more]
GENCO 3 promises to solve air pollution at Vinh Tan 2 Van Nam By Van Nam - The Saigon Times Daily HCMC – Power Generation Corporation 3 (GENCO 3) promised on July 15 to solve the serious air pollution caused by Vinh Tan 2 thermal power plant in Binh Thuan Province and asked the households in nearby residential areas for sympathy. The affiliate of Vietnam Electricity Group (EVN) explained in a statement released on July 15 that the air pollution worsened on July 2 when there was a problem with the ash pipeline of the power plant’s Generator No. 2.…... [read more]
