Cam Pha Thermal Power Joint Stock Company to be listed on UpCoM on September 25

By Hoa Dang - Sep 20, 2017 | 07:33 AM GMT+7

TheLEADERCam Pha Thermal Power Joint Stock Company (TKV)’s stock will be listed as CPC on the Unlisted Public Company Market (UPCoM) with the reference price of VND10,000 (roughly US$0.44) per share.

Cam Pha Thermal Power Joint Stock Company to be listed on UpCoM on September 25
Cam Pha Thermal Power Joint Stock Company (TKV)

TKV, a subsidiary of Vinacomin - Power Holding Corporation (Vinacomin) under Vietnam National Coal-Mineral Industries Group has been permitted to list its 197 million shares worth VND1,970 million (roughly US$86.82 million) of charter capital on the UpCoM Stock Board on this September 25.

The company was established under the capital contributions of five founding shareholders who are state-owned enterprises. Currently, TKV has eight corporate shareholders holding a total of 96.31 percent stake with Vinacomin owning 89.21 per cent and the remaining 3.96 per cent belongs to 392 individual shareholders.

The main businesses of the company are electricity production, transmission, and distribution, investing in Cam Pha thermal power plant and selling electricity to the national system. TKV's electricity production in 2016 reached 2,320 MWh including 2,084 MWh of the commercial electricity output, reaching 64 per cent of its plan.

The company estimated that with the increasing electricity consumption, the 2016-2020 period would be a great opportunity for electricity enterprises to develop.

However, for the passing years, TKV has produced negative business results. In 2015, it lost VND274 billion (roughly US$12.08 million) and in 2016 it suddenly gained VND99 billion (roughly US$4.36 million) of profit after tax due to the deduction of financial expenses. The company’s target for 2017 was VND4,117 billion (roughly US$181.45 million) of profit and VND9.6 billion (roughly US$423,093) loss; however, after first six months of 2017, it reached only VND1,661 billion (roughly US$73.20 million) and lost up to VND52.4 billion (roughly US$2.31 million).