JavaScript is off. Please enable to view full site.

Vietnam seeks to raise about $50mn in power plant stake sale

Thursday, June 11, 2020, 09:07 GMT+7
Vietnam seeks to raise about $50mn in power plant stake sale
The Haiphong Thermal Power JSC in Hai Phong City, Vietnam. Photo: NPCETC

HANOI — Vietnam is seeking to raise around $50 million by selling a 9% stake in Haiphong Thermal Power via an auction on June 18, the government said on Wednesday.

The government’s State Capital Investment Corp. (SCIC) will auction all of its 45 million shares at an initial price of VND26,000 (US$1.12) apiece, potentially valuing the sale at VND1.17 trillion ($50.45 million), it said in a statement.

Vietnam plans to sell some operational state-owned power plants to foreign investors to raise funds for urgently needed new projects and ease pressure on public debt.

Haiphong Thermal Power, which owns a coal-fired power plant in Haiphong City in northern Vietnam, had total assets of VND12.66 trillion ($547.3 million) at the end of 2019, the government said. 

Reuters

More

Read more

;

Photos

VIDEOS

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Latest news