EVNGENCO 3 equitization plan has been approved
The equitization scheme will be to retain the existing state capital at the Corporation and issue more shares to increase the charter capital.
The charter capital of Power Generation Corporation 3 - Joint Stock Company (EVNGENCO3) is VND 20,809 billion. Of which, EVN holds 1,061,300,000 shares, accounting for 51% of the charter capital.
EVN will hold 51% of the charter capital in EVNGENCO 3 until the end of 2019. From the year 2020 in case that EVN and EVNGENCO3 will restructure its debts and negotiate with credit institutions to provide loans to the Corporation, EVN will consider divesting its capital in EVNGENCO 3 below the dominant level.
The preferred shares to be sold to employees in EVNGENCO3 are 3,424,100 shares, equivalent to 0.1645% of the charter capital.
The IPO shares are 267,051,900 shares, representing 12.8355% of the charter capital.
The IPO shares will be sold to the public at the starting price of VND 24,600 per share.
The shares to be sold to strategic investors are 749,124,000 shares, representing 36% of the charter capital.
The selling method is public auction on the Ho Chi Minh City Stock Exchange, No. 16 Vo Van Kiet, District 1, Ho Chi Minh City.
The share selling duration is three months from the date of approving the equitization plan in accordance with regulations without having to re-evaluate the corporation price.
The Prime Minister authorized the Minister of Industry and Trade to decide the criteria for selecting strategic investors.
The selling price of shares to strategic investors will be determined at the time of selling shares to strategic investors. In cases of selling shares to strategic investors after Decree No. 126/2017/ND-CP dated November 16, 2017 of the Government on transformation of state own enterprises and one - member limited liability companies 100% owned by state-owned enterprises into joint -stock companies become effective, the selling price will be determined according to Decree No. 126/2017/ND-CP.
The share selling to strategic investors will be implemented after the IPO. In case of selling shares to strategic investors by auctions, the auctions shall be organized on the Ho Chi Minh City Stock Exchange.
Regarding labor arrangement plan: The total number of employees at the time of publishing the corporation price is 2,478 people. The number of employees to be transferred to the joint stock company is 2,478 people.