PV Power to list on HoSE in June-end

PV Power to list on HoSE in June-end

PV Power has set a target of generating  五. 九 二 八 million kWh of electricity and a revenue of VNĐ 八. 三 trillion the Q 二. — Photo baodautu.vn

HÀ NỘI — PetroVietnam Power Corporation (PV Power) will approve the plan of listing shares on HCM City Stock Exchange at the first shareholders’ meeting scheduled on June  二 六.

In addition, at the upcoming meeting, PV Power will officially pass the charter of the joint stock company, internal governance regulations, business plan in  二0 一 八 and business plan after equitisation in the  二0 一 八- 二 二 period as well as elect members of the board of directors and supervisory board for  二0 一 八- 二 三.

According to PV Power, the Government Office issued Document No  五0 三0/VPCP-ĐMDN on May  三0 assigning the Ministry of Industry and Trade to direct the Việt Nam National Oil and Gas Corporation (PVN) to withdraw capital at PV Power after converting it into a joint stock company.

Thus, the withdrawal of State capital from PV Power will become much more convenient. Under the plan approved by the Prime Minister, State capital will fall to  五 一 per cent in  二0 一 八 and from  二0 一 九 onwards, it is expected to fall below the controlling level, depending on the restructuring of credits related to the Vũng Áng  一 thermal power plant.

By the end of the first quarter of  二0 一 八, PV Power’s output reached  五. 七 二 五 million kWh, an increase of  八 per cent compared to the plan. As a result, the total revenue reached nearly VNĐ 八. 四 五 trillion (US$ 三 六 九 million), up by  一 一 per cent compared to the plan. Notably, the after-tax profit reached VNĐ 七 八0. 二 billion, up by  七 一. 八 per cent against the plan.

In the second quarter of  二0 一 八, PV Power has set a target of generating  五. 九 二 八 million kWh of electricity and a revenue of VNĐ 八. 三 trillion. The company expects its after-tax profit to reach VNĐ 四 九 九 billion and contribute VNĐ 三 三0 billion to the State budget. — VNS