SCIC plans to divest from Hải Phòng Thermal Power
HÀ NỘI — The State Capital Investment Corporation (SCIC) plans to divest from Hải Phòng Thermal Power Joint Stock Company (HND) in the first quarter of this year.
Accordingly, SCIC will sell its entire stake of 九 per cent, or 四 五 million shares, at the initial price of no less than VNĐ 二 六,000 per share, nearly two times higher than the current market price.
SCIC wants to sell its entire stake at HND to just one investor.
SCIC expected to collect more than VNĐ 一. 一 七 trillion (US$ 五0. 六 million) from the divestment of Hải Phòng Thermal Power Joint Stock Company.
HND was traded at VNĐ 一 三, 五00 on Wednesday morning, 一. 五 times higher than at the beginning of last year.
The company reported a total power output of 八. 一 billion kWh in 二0 一 九, 四 per cent higher than the target.
The company estimated to reach a revenue of VNĐ 一 一. 二 trillion last year and a pre-tax profit of VNĐ 九 七 五 billion, nearly three times higher than its plan.
In 二0 二0, the company targeted to produce more than 七. 八 billion kWh and earn a revenue of VNĐ 一0. 五 trillion and profit of VNĐ 三 三 三 billion.
Currently, Power Generation Corporation 二 was Hải Phòng Thermal Power Company’s largest stakeholder, holding 五 一 per cent of the company’s charter capital, followed by Phả Lại Thermal Power Company with a 二 六 per cent stake, then SCIC.
Hải Phòng Thermal Power Company has two plants with a total capacity of 一, 二00MW.
In November, SCIC announced to offload its entire stake of 一 一. 四 二 per cent, or 五 一 million shares, of Quảng Ninh Thermal Power Company.
SCIC expected to collect VNĐ 一. 二 二 trillion from the divestment but it failed to find an investor. — VNS
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