While PetroVietnam Power Corporation (PV Power)’s shares sold out at its initial public offering (IPO), Power Generation Corporation 3 (EVN Genco 3) proved unmarketable with only 2.8 per cent of the offered shares registered for sale.

The Ho Chi Minh City Stock Exchange (HoSE) has published the number of investors registered to join the auction for EVN Genco 3 as well as the volume of registered shares.

Accordingly, 336 investors registered to join the auction, 320 of whom are domestic individuals, 14 foreign individuals, and two foreign organisations. There were no domestic organisations interested in the auction.

Only 7.5 million shares or 2.8 per cent of the 267 million offered shares were registered, including 40,700 by foreign individuals and 3.35 million by foreign organisations.

The auction is expected to be organised on February 9 with the initial unit price of VND24,600 ($1.08).

Regarding the updated information about the strategic investors, according to Dinh Quang Tri, deputy general director of EVN, the four investors come from India, Thailand, South Korea, and the Middle East, with their own advantages.

Notably, the investor from India operates power plants with a total capacity of 10,000MW, with coal mine projects in Indonesia and Australia.

The Thai investor has massive experience in manufacturing turbines and has strong financial potential.

The investor from the Middle East is specialised in investing in power plants over the world.

The South Korean investor has financial potential and has developed power plants around the world, including a BOT project in Vietnam.

Earlier on January 31, another power producer PV Power conducted its auction to offer 20 per cent stake for investors. After the auction, all the 468.37 million shares on offer were sold at the average selling price of VND14,938 ($0.66) per share, with the highest and lowest selling prices being VND28,000 ($1.23) and VND14,500 ($0.64). After the sale, PV Power’s total capitalisation reached $1.48 billion.

VIR