The Pha Lai Joint-Stock Thermal Power Company made a debut at the Ho Chi Minh City Securities Trading Centre on Jan. 26 with an offer of over 310 million shares for sale.
The power supplier with over 3 trillion VND (almost 190mio US$) in legal capital became the most powerful that has ever listed shares on the exchange floor so far.
Its first appearance today witnessed 131,000 shares, under the codename of PPC, find new owners, thus bringing the total share holders to 3,675, including 85 foreign individuals and 11 foreign companies, which hold over 11 million shares.
The Pha Lai company boasts two thermal power plants with a combined capacity of 6.24 billion kWh a year and assets worth almost 10.7 trillion VND (668mio US$) in total.
The two plants generated a record output of 7.25 billion kWh in 2006, earning over 200 mio US$ in revenues and over 61.3mio US$ in profits.
Pha Lai closed up at 105,000 VND (6.5 US$) each on the Ho Chi Minh City Securities Trading Center after the firm moved its listing from the Hanoi over-the-counter stock market, where they last traded at 65,600 VND.
Brokers said more shares in Pha Lai Thermal Power Co. would be offered to the public as the key shareholder, dominant state utility Electricity of Vietnam (EVN) now holding 78% of stake, is expected to reduce its ownership to 51%.
Source: VNA, Thanh Nien
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