EVN is about to auction more than 4 million of its shares at PECC3

At 8:30 on 25th June 2019, at Hanoi Stock Exchange, Vietnam Electricity (EVN) is going to auction more than 4 million of its shares at Power Engineering Construction Consulting Joint Stock Company 3 (PECC3).

The total number of the shares offered is 4,037,134. The starting price of the auction is expected to be VND 76,700/share.

The time and the location for registering to participate in the auction and deposit payment is from 29^th May 2019 to 15:30 on 18^th June 2019.

The time and location for submitting Auction slips is at least 16h00 on 21^st June 2019.

The total charter capital of PECC is VND 82.76 billion. Currently, EVN holds 48.78% of its charter capital. PECC3 specializes in the following fields: Verifying construction quality; certifying the compliance with requirements for load-bearing safety and certifying the quality of construction works, Surveying and measuring maps and drawing cadastral maps, Formulating the planning for investment projects, Developing power units, Preparing investment reports and investment projects; Formulating bidding documents for power plant projects (hydropower, thermopower, power sources and grids), etc.

At the end of 2018, PECC3 achieved the net revenue of VND 380 billion, its after-tax profit was increased to VND 14.5 billion, 4% higher than that of 2017.

In 2019, the Company sets a revenue target of VND 390 billion, after-tax profit of VND16 billion. By the end of Quarter I of 2019, the after-tax profit of the Company reached more than VND 700 million.

The transfer of EVN's shares in PECC3 is conducted to implement the Prime Minister's Decision No.852/QD-TTg dated 14^th June 2017 on approving the Overall scheme on arranging and restructuring the enterprises under EVN in the period of 2017 -2020.