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Vietnamese securities have more billion USD market capitalization enterprises

Sunday - 17/02/2019 18:18
PV Power's market capitalization is based on the first reference price of about VND 24,900 billion, equivalent to USD 1.5 billion.
Ho Chi Minh City Stock Exchange approved to list 2.34 billion shares of PetroVietnam Power Corporation (PV Power, stock code: POW). This stock has appeared on the electronic board from January 14 with the reference price of the first trading session of VND 14,900, a range of 20%. Estimated market capitalization is about VND 34,900 billion, equivalent to USD 1.5 billion.

At the end of last year, PV Power canceled the registration of trading 467.8 million shares at the Hanoi Stock Exchange to carry out the procedures for floor transfer. This stock closed the last trading session on UPCoM on December 27 at VND 16,000.

PV Power predecessor operated as a one member limited liability company, established in mid 2007 with 100% state capital. The company completed the equitization process in mid-2018 with a charter capital of VND 23,418 billion.

After the initial public offering of shares, Vietnam Oil and Gas Group is still the only major shareholder, the State representative holds 79.94% of charter capital. Foreign investors own approximately 14.3%, while the investment ownership limit for foreign investors is up to 49%.

The main activity of PV Power is the production and trading of electricity, import and distribution of coal, maintenance of power plant maintenance. The company is the second largest electricity producer in the country, just behind Vietnam Electricity Group and 5 factories have joined the competitive generation market.

Annual revenue of the company in the period 2016-2018 ranges from 28,000 to 30,000 billion VND, in which selling electricity accounts for an overwhelming proportion with over 96%. The total value of assets and equity as of September 30, 2018 was VND 61,400 billion and VND 26,550 billion respectively. Expected dividend rate last year is 3% and this year is 6%.

Author: Translated by CoPhieuViet.Com

Source: Vnexpress newspaper

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