EVNGENCO2 to launch IPO in June

11:34 | 03/04/2018 Industry

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.

​Illustrative image - Photo: VNA

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

The corporation has completed value evaluation and selected consultancies for developing its equitization 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 percent from 2016. It accounted for about 13.67 percent of EVN’s electricity output and 8.49 percent of Vietnam’s total power generation.

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

The power producer sets the target of generating over 16.78 billion kWh of electricity this year, up 0.25 percent from 2017. It also plans to put Song Bung 2 Hydropower Plant into operation and join the country’s competitive power market in 2018.

Theo VNA