State Capital Investment Corporation (SCIC) announced it was selling its entire stake of 49.5 million shares of the Vinh Son-Song Hinh Hydropower plant (VSH). The shares, equivalent to 24 per cent of the charter capital, were offered at the starting price of VND18,300 (US$0.81) per share.
If the sale is successful, SCIC will earn a minimum of VND905 billion.
Based in central Quy Nhon City, the hydropower plant, with charter capital of over VND2 trillion, produces and trades electricity, provides management, operation and maintenance services to plants, provides consultancy on project management, supervises hydropower project construction and trades material and equipment for the hydropower sector.
Listed since 2006 on the HCM Stock Exchange, its shares rose more than 17 per cent over the past month to settle at VND16,900 per share on September 9 on the HCM Stock Exchange.