Business

EVNGENCO2 to launch IPO in June

The Power Generation Corporation 2 (EVNGENCO2) is taking necessary steps to conduct the first public offering (IPO) in June, according to newly-appointed Director General Truong Hoang Vu.
EVNGENCO2 to launch IPO in June ảnh 1​Illustrative image. (Photo: VNA)

Can Tho (VNA) – The Power GenerationCorporation 2 (EVNGENCO2) is taking necessary steps to conduct the first publicoffering (IPO) in June, according to newly-appointed Director General TruongHoang Vu.

Vu mentioned the plan at the corporation’s conference toreview its performance in the Mekong Delta city of Can Tho on January 10.

The corporation has completed value evaluation andselected consultancies for developing its equitisation plan, he said.

EVNGENCO2, a member of the Electricity of Vietnam (EVN),produced more than 16.74 billion kWh of electricity last year, up 10.28 percentfrom 2016. It accounted for about 13.67 percent of EVN’s electricity output and8.49 percent of Vietnam’s total power generation.

Ending 2017, the company earned more than 22.9 trillionVND (916 million USD) in total revenue and nearly 3.14 trillion VND (125.6million USD) in profit. It paid over 2.1 trillion VND (84 million USD) to theState coffer.

The power producer sets the target of generating over16.78 billion kWh of electricity this year, up 0.25 percent from 2017. It alsoplans to put Song Bung 2 Hydropower Plant into operation and join the country’scompetitive power market in 2018.-VNA
VNA
#Power Generation Corporation 2 #EVNGENCO2 #first public offering #IPO #Director General Truong Hoang Vu #Electricity of Vietnam #EVN #power #electricity #power generation #Vietnam #English news about Vietnam #Vietnam news #news about Vietnam #English news #latest news on Vietnam #Vietnam #Vietnam breaking news #news VN #VN news #Vietnamplus
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