The IPO has drawn the attention of many investors, especially foreign ones. According to HNX, 1,981 investors registered to buy 491 million shares, surpassing 4% of the total shares offered.
1,928 investors including 94 organizations and 1,834 individuals participated in the auction, winning price of VND14,938 (US$0.657) per share, 3.7% higher than the initial price point.
In particular, foreign investors bought 284.44 million shares, accounting for 60% of the auction's volume.
PV Power, a fully-owned company of the Vietnam National Oil and Gas Group (PVN or PetroVietnam), has its charter capital of VND23.4 trillion (US$1.04 billion) after the equitization process is completed.
PV Power is currently the second largest electricity producer in Vietnam, operating 8 power plants with a total capacity of 4.2 GW, accounting for about 11% of the nation's electricity generation capacity.
The company was also the third PVN member unit to launch an IPO after Binh Son Refining and Petrochemicals Company Limited (BSR) and PetroVietnam Oil Corporation (PV Oil).
PV Power’s net sales in 2017 stood at VND31.5 trillion (US$1.38 billion), up 12 per cent yoy, while its after-tax profit stood at VND1.9 trillion (US$83.6 million), up 25 per cent, according to estimates by Ho Chi Minh City Securities Corporation (HSC).
