EVNGENCO 2’s equitisation plan approved hinh anh 1Illustrative photo (Source: VNA)

Hanoi, December 30 (VNA) – The Prime Minister has signed a decision approving an equitisation plan designed for the Power Generation Corporation 2 (EVNGENCO 2), a subsidiary of the Vietnam Electricity (EVN).

Under the plan, part of the company’s State capital owned by EVN will be sold to reduce the EVN’s stake to 51 percent from the current 100 percent.

The date set for EVNGENCO 2’s initial public offering will be no later than February 17 next year. The company do not have to carry out its evaluation process again.

EVNGENCO 2 is among the six State corporations due for equitisation this year.

The company was established in 2012 with a charter capital of 11.7 billion VND. Vietnam Electricity (EVN) holds 100 percent of its charter capital.

Its value was determined at 46.1 trillion VND (nearly 2 billion USD) as of January 1, 2019, of which the real value of State capital is more than 26.6 trillion VND./.