The company estimates its total revenue will likely hit 33.36 trillion VND by year-end, exceeding the yearly target by 6 percent (Photo: tinnhanhchungkhoan.vn)
 
Hanoi (VNA) - The PetroVietnam Power Corporation (PV Power) will cancel the trading of more than 467.8 million shares on the Unlisted Public Company Market (UPCoM) on December 28, the Hanoi Stock Exchange (HNX) has announced.

The delisting from UPCoM, which happens after nine months of listing, will serve its relocation to the Ho Chi Minh Stock Exchange (HOSE). The last trade of PV Power, coded POW, will take place on December 27.

PV Power debuted more than 467.8 million shares on UPCoM on March 6, 2018, a little more than a month after its initial public offering on January 31.

POW is trading around 14,800 VND (0.63 USD) per share, a 15.4-percent discount compared to its debut price of 17,500 VND on its first trading day.

The power arm of the Vietnam Oil and Gas Group (PetroVietnam) will list all of its 2.34 billion shares, equivalent to charter capital of more than 23.4 trillion VND, on HOSE under the same ticker POW. The new listing, expected to take place in early 2019, will help facilitate the company’s access to domestic and foreign capital.

The company estimates its total electricity output of the system in 2018 will reach more than 21 billion kWh. Its total revenue will likely hit 33.36 trillion VND (1.43 billion USD) by year-end, exceeding the yearly target by 6 percent.

This year, pre-tax profit of the whole corporation is expected to reach more than 2.3 trillion VND (98.7 million USD) with pre-tax profit of the parent company being 2.57 trillion VND (110.2 million USD), surpassing its yearly goal of 24 percent.

The company is projected to pay 1.36 trillion VND (58.3 million USD) to the State budget, equivalent to 110 percent of its yearly estimate.-VNA