More power companies to offer shares

More power companies to offer shares

Two Vietnamese power companies announced Friday plans to offer shares to the public this month as part of the government’s efforts to restructure state-owned companies.

Ba Ria Thermopower Co. said it hoped to raise increase its capital by VND190.58 billion (US$12 million) by auctioning 12.1 million shares on March 15. The oil-fired power plant, which now has a registered capital of VND605 billion, will hold the auction at the Hanoi stock exchange. Thac Mo Hydropower Company expects to raise around VND280 billion ($17.5 million) from a public issue on March 29. The company has a registered capital of VND700 billion and its auction too will be held in Hanoi. Neither company, however, said when they plan to list on the stock market. Source: Dow Jones Newswire