Vinacomin will divest the state capital at Vinacomin – Power Corporation

Vinacomin will divest the state capital at Vinacomin – Power Corporation - 

Vietnam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) divest the state capital at Vinacmin - Power Corporation by decreasing it from 99.68% to 65%. This is the information given by Mr. Nguyen Van Bien, Vinacomin Vice General Director at the conference “Investment opportunity to Vinacomin Power Corporation (Code: DTK - UpCOM)” on July 26, 2017.

According to the report of Vinacomin, at present, the total charter capital of Vinacomin Power is 6,800 billion VND (680 million shares with 10,000 VNĐ each). Thus, the shares divested this time will be 235,808,500 (equivalent to 2,358 billion VND).

From a 100% state-owned enterprise, Vinacomin Power has been equitized since January 15, 2016.

Mr. Bien also informed that in the next step of restructuring project, Vinacomin will decrease the state capital to 51%. Further, in accordance of Government directions, Vinacomin will assess how to appropriately divest and satisfy the desire to increase the stocks of the shareholders.

At present, Vinacomin Power owns 7 coal-fired thermal power plants (TPPs) with a total capacity of 1,730 MW and average generation of 9.5 billion kWh, recent years. All the TPPs of Vinacomin use Circulating Fluidized Bed (CFD) boilers suitable for poor quality coal as dust 6B, 7B.

Besides, Vinacomin Power also holds about 5 – 10% of shares in three other TPPs which have a total capacity of 3600 MW.

Leave your comment on this story