Equitization of Vinacomin Power Corporation

Equitization of  Vinacomin Power Corporation - 

Government’ Prime Minister has issued the Decision on equitization of the parent company - Vinacomin Power Corporation under Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin).

Cao Ngan thermal power plant - Vinacomin.

According to the Decision, Vinacomin Power Corporation - Joint Stock Company (the international name is Vinacomin - JSC) will inherit all the rights, duties and legal benefits of the Vinacomin Power Corporation before its transformation; continue to carry out all the businesses Vinacomin Power Corporation is doing today and other business activities in accordance with the Regulation of the Law.

The Decision makes clear the equitization form as a combination between selling a part of state capital in the enterprise and issuing coupons for increasing charter capital of the enterprise.

The charter capital of the Corporation is VND 6,800 billion divided into 680 million with a VND 10,000 value per share at the first coupon issuing time

From 680 million shares, there are: 442 million accounting 65% charter capital as state own; 1,608,040 accounting 0.24% charter capital sold for employees with a prior price and 236,391,960 accounting 34.76 % charter capital sold by an open bidding.

Prime Minister has authorized the Minister of Industry and Trade to direct Vinacomin to set, decide the starting point price for the first share bidding time and select the Intermediary Financial and Stock Exchange Institutions for organizing to sell shares to the public.

The Representative of the state own capital part at Vinacomin Power Corporation- JSC is Vietnam National Coal - Mineral Industries Holding Corporation Limited (Vinacomin).

The total number of employees of Vinacomin JSC at the enterprise value publishing moment is 1,522 people transferring from Vinacomin PC.

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