Having the total capitalisation volume of VND120tril ($7.5bil), six share items, SJS, STB, FPT, VNM, PPC, and PVD, now account for one-third of the total listing market capitalisation.
Domestic and foreign investors always refer to the prices of the six blue chips when making investment decisions, considering these the barometer of the stock market.
Several days ago, foreign investors were given an unexpected gift: as the securities depository centre made a mistake in defining the foreign ownership ratio in Sacombank, foreign investors could freely purchase many more Sacombank shares. Though the depository centre announced its mistake, foreign investors decided not to sell Sacombank shares in order to reduce the foreign ownership ratio to 30% as required. The event shows the big attractiveness of Sacombank shares (STB).
In the last trading sessions, STB has led the market in transaction volume. However, as the market remains quiet, STB’s price did not increase, selling at VND53,000/share on August 28.
According to Bui Ngoc Tuoc, a securities expert, though STB has high liquidity and low P/E index, it has several shortcomings that may worry investors.
First, STB have been listed in the largest quantity on the market with listed 442mil, many of which have been additionally issued, and at the moments when the demand was lower than supply.
Second, STB has witnessed a lot of changes in staff, while members of management board and their relatives have continuously sold STB recently.
Third, investors still want to keep the ‘wait-and-see’ attitude as they want to know how Sacombank will perform when many foreign banks enter the market and more local banks are set up.
Mr Tuoc said that if the shortcomings could be fixed, STB would still deserve to be listed among investors’ portfolios.
Once the hottest share item on the bourse, SJS has surrendered its first position to another item though it remains influential. When Song Da Corporation (the parent group of SJS) sold 6mil SJS shares, big doubts were left among investors.
Vu Chi Tung, an investor on SSI trading floor, said that this was one of the factors that had prompted him and other investors not to keep SJS any more. “Song Da would not have sold SJS in large quantities if SJS had been actually promising,” he said.
The director of a securities company said that SJS would have difficulty retaining its previous position as the real estate boom was over. Meanwhile, several other real estate firms, which also have big competitiveness, are also going to make IPOs or list on the bourse.
The director said that the actual value of SJS would be somewhere between VND200-250,000/share. If the real estate market does not witness a new price fever, and the company does not have business plans which promise fat profit, SJS will not be able to return to the over VND300,000/share level.
Recently, Vinamilk (VNM) has revealed its intention of listing on a foreign bourse. Together with STB, VNM is a big name among the six blue chips most wanted by investors. If the government approves the raising of foreign ownership ratio, and VNM lists on foreign bourses, VNM price will skyrocket. However, there is always a big gap between expectations and reality.
FPT prices slid dramatically recently from their highest peak. Three reasons have been cited to explain the sharp price decreases 1. bad rumours about FPT, which were not addressed timely 2. TPG registered to sell a large quantity of FPT 3. Two members of FPT registered to sell a large volume of FPT also at that time. Whether FPT prices can recover in the time to come will depend on many factors, while FPT’s management board has committed not to sell shares until the year’s end.
PPC, though having the lowest P/E index among the group of six (less than 17), has the lowest price level, at VND52,500/share.
The paradox has been explained by Electricity Engineer Tran Vinh Nghi: outdated equipment and low management skills both make PPC’s value low.
Meanwhile, PVD has overly high P/E (over 74), while the new projects of the company have not shown efficiency; therefore, investors dare not inject mooney in PVD. Moreover, if wanting to make investment in oil and gas companies, investors will have more choices in the near future, when more oil and gas enterprises are equitised.
Showing posts with label PPC. Show all posts
Showing posts with label PPC. Show all posts
Friday, August 31, 2007
Wednesday, July 18, 2007
Pha Lai power plant H1 profit up 11%
Pha Lai Thermal Power Co. (PPC), Vietnam's third-largest listed firm, said on Wednesday its first-half net profit rose nearly 11 percent from a year earlier to 562.8 billion dong ($34 million).
The power plant operator said in a statement released through the Ho Chi Minh Stock Exchange its revenues jumped nearly 18 percent from the first half of last year to 2.05 trillion dong ($127 million).
Officials of dominant utility Vietnam Electricity, the largest share holder in Pha Lai, have forecast power consumption would rise up to 20 percent this year with the domestic economy expected to grow 8.5 percent.
Pha Lai operates two plants in the northern province of Hai Duong, 65 km (40 miles) east of Hanoi, with a combined capacity of 1,040 megawatts. They produce nearly 6 billion kilowatt hours of electricity per year, 10 percent of Vietnam's total.
Shares in Pha Lai fell 0.83 percent to 59,500 dong ($3.7) on Wednesday, valuing the firm at $1.15 billion, the third largest on the Ho Chi Minh exchange after top dairy product maker Vinamilk (VNM) and IT firm FPT.
Source: Reuters
The power plant operator said in a statement released through the Ho Chi Minh Stock Exchange its revenues jumped nearly 18 percent from the first half of last year to 2.05 trillion dong ($127 million).
Officials of dominant utility Vietnam Electricity, the largest share holder in Pha Lai, have forecast power consumption would rise up to 20 percent this year with the domestic economy expected to grow 8.5 percent.
Pha Lai operates two plants in the northern province of Hai Duong, 65 km (40 miles) east of Hanoi, with a combined capacity of 1,040 megawatts. They produce nearly 6 billion kilowatt hours of electricity per year, 10 percent of Vietnam's total.
Shares in Pha Lai fell 0.83 percent to 59,500 dong ($3.7) on Wednesday, valuing the firm at $1.15 billion, the third largest on the Ho Chi Minh exchange after top dairy product maker Vinamilk (VNM) and IT firm FPT.
Source: Reuters
Friday, June 29, 2007
EVN mulls blackouts for July
Vietnam’s State-run electricity provider is considering rolling blackouts next month when it is scheduled to shut down a major oil field for maintenance, company officials announced this week.
Electricity of Vietnam could cut off power to homes for one to two hours a day during periods of high demand, said Ngo Son Hai, deputy director of the company’s National Electricity Dispatching Centre.
The company used rolling blackouts in May to contend with another shortage. The latest conservation efforts could stretch into September, Hai said.
The power company is scheduled to close down the Nam Con Son oil field in three stages; from July 1 to 6, August 29 to September 16 and finally September 20 to 30. The maintenance was planned one year ago.
The field provides fuel for generators at the Phu My power complex, which produces 4,000 MW, one-third of the country’s total production. Electricity of Vietnam is expecting a shortfall of almost 1,000MW.
Thermo-electric plants in the north, including those in Pha Lai and Uong Bi, would also be closed for maintenance, adding to the shortage, Hai said. The hot July temperatures also cause hydro-electric reservoirs to evaporate.
Electricity of Vietnam planned to increase the amount of power it buys from China, adjust its maintenance schedule and maximising output at other plants, Hai said.
The company was guarding against shortages at hospitals, schools, military bases and other public security institutions, he said.
The announcement of blackouts was met with disapproval by-homeowners and agencies like the Vietnam Electrical Industry Association, which criticised the timing of the maintenance at Nam Con Son.
The work comes as water levels are as their lowest and as thousands of students take university entrance exams.
Source: VNE
Electricity of Vietnam could cut off power to homes for one to two hours a day during periods of high demand, said Ngo Son Hai, deputy director of the company’s National Electricity Dispatching Centre.
The company used rolling blackouts in May to contend with another shortage. The latest conservation efforts could stretch into September, Hai said.
The power company is scheduled to close down the Nam Con Son oil field in three stages; from July 1 to 6, August 29 to September 16 and finally September 20 to 30. The maintenance was planned one year ago.
The field provides fuel for generators at the Phu My power complex, which produces 4,000 MW, one-third of the country’s total production. Electricity of Vietnam is expecting a shortfall of almost 1,000MW.
Thermo-electric plants in the north, including those in Pha Lai and Uong Bi, would also be closed for maintenance, adding to the shortage, Hai said. The hot July temperatures also cause hydro-electric reservoirs to evaporate.
Electricity of Vietnam planned to increase the amount of power it buys from China, adjust its maintenance schedule and maximising output at other plants, Hai said.
The company was guarding against shortages at hospitals, schools, military bases and other public security institutions, he said.
The announcement of blackouts was met with disapproval by-homeowners and agencies like the Vietnam Electrical Industry Association, which criticised the timing of the maintenance at Nam Con Son.
The work comes as water levels are as their lowest and as thousands of students take university entrance exams.
Source: VNE
Friday, June 22, 2007
Where are billion dollars to be injected?
Vietnamese people heard recently that foreign investment funds are planning to pour several billion dollars worth of capital into Vietnam. And a question has been raised about where the huge capital is to be injected in, as there seems to be no more room for foreign investors.
Foreign investors now hold 49% of shares in big companies, including AGF, BMP, SAM and TAY, and 30% in STB. Under the current regulations, foreign ownership must not be higher than 49% in local joint stock companies, and 30% in local joint stock banks, which means foreign investors have no more opportunities to buy shares of the companies.
Meanwhile, the room for foreign ownership in other companies is also nearly running out: the foreign ownership in BT6 is 48.96%, CII 48.98%, SJS 44.98%, and VNM 46.26%. Especially, REE and SHC “have been well in advance of the age” as the two companies have sold 55.47% and 56.5% of shares respectively to foreign investors
Dang Huu Chau, former student of Tokyo University, who is now the securities broker for many Japanese tourists/securities investors in Vietnamese stock, also said that the share items of which the foreign ownership hits the ceiling level of 49% or 30% are the ones that can bring the fattest profit. Many Japanese investors want to make investments in these blue chips, but they cannot because there is no more room for them.
The Securities Brokerage Division under the Saigon Securities Incorporated (SSI) also said that many foreign investors could not buy the share items they want though they placed orders three weeks ago.
In fact, foreign investors still can buy some blue chips, but just in small volume as the room in these companies is nearly running out. However, as for foreign investment funds, the small volume is not worth their disbursement.
Don Lam, Director General of Vina Capital stressed that only when Vietnam offers more room for foreign investors, can the market become more bustling.
Raising the foreign ownership ratio in local companies proves to be the best solution to lure more foreign capital into Vietnam. However, the State Securities Commission (SSC) has recently stated that the Government of Vietnam does not think of this issue right at this moment. As such, several billion dollars worth of investment capital are still waiting to be injected in Vietnam.
Foreign investors believe that opportunities will come in several months, when a lot of big companies make IPOs. They also heard that SSC is compiling a new regulation on foreign investors’ management, which may allow foreign investment funds to open branches in Vietnam sooner than that stipulated in WTO commitments. However, analysts have warned that there would not be many chances for them, as the companies that make IPOs operate in the fields that limits foreign ownership, including banking, telecommunication and finance.
These companies include Vietcombank, BIDV (banking), MobiFone and Vinaphone (telecommunication).
In May 2007, foreign investors doubled the investment in Vietnam’s stocks: they injected $150mil in stocks in May, while the figure was $80mil in April, equal to the sum of money they poured into Vietnam in December 2006, and February 2007 (Source: Vietnam Monitor 2, June 8, 2007, HSBC Hong Kong).
Garry Evans, the stocks analyst of HSBC, who has been keeping close watch over Vietnam’s stock market, has advised investors to remain cautious with their deals, and not to become aggressive buyers at this moment, since the P/E Index proves to be too high: 34. The analyst said that investors should wait for the IPOs to appear in August, October and December.
However, a lot of foreign investors cannot keep patient as they were advised, as they have been put under hard pressure to disburse funds’ capital. Investment funds from the Republic of Korea, for example, have successfully raised $1bil worth of capital and they now compete with others in capital disbursement. Korean investors are the ones who won the right to buy most of Bao Viet’s shares at the recently held auction.
The analyst has named some share items that foreign investors can still buy in, FPT, VHS, PPC, PVD, SJS and ITA (the foreign ownership in these companies is below 20%). If the HCM City Securities Trading Centre (HSTC) does not offer more commodities, the foreign capital flow will not be able to increase.
Meanwhile, HSTC has reported that it has just received the applications for listing from few companies. At this moment, it seems to be not the right time to list, when the daily trading value is just VND500-600bil ($31.25mil).
Source: VNE
Foreign investors now hold 49% of shares in big companies, including AGF, BMP, SAM and TAY, and 30% in STB. Under the current regulations, foreign ownership must not be higher than 49% in local joint stock companies, and 30% in local joint stock banks, which means foreign investors have no more opportunities to buy shares of the companies.
Meanwhile, the room for foreign ownership in other companies is also nearly running out: the foreign ownership in BT6 is 48.96%, CII 48.98%, SJS 44.98%, and VNM 46.26%. Especially, REE and SHC “have been well in advance of the age” as the two companies have sold 55.47% and 56.5% of shares respectively to foreign investors
Dang Huu Chau, former student of Tokyo University, who is now the securities broker for many Japanese tourists/securities investors in Vietnamese stock, also said that the share items of which the foreign ownership hits the ceiling level of 49% or 30% are the ones that can bring the fattest profit. Many Japanese investors want to make investments in these blue chips, but they cannot because there is no more room for them.
The Securities Brokerage Division under the Saigon Securities Incorporated (SSI) also said that many foreign investors could not buy the share items they want though they placed orders three weeks ago.
In fact, foreign investors still can buy some blue chips, but just in small volume as the room in these companies is nearly running out. However, as for foreign investment funds, the small volume is not worth their disbursement.
Don Lam, Director General of Vina Capital stressed that only when Vietnam offers more room for foreign investors, can the market become more bustling.
Raising the foreign ownership ratio in local companies proves to be the best solution to lure more foreign capital into Vietnam. However, the State Securities Commission (SSC) has recently stated that the Government of Vietnam does not think of this issue right at this moment. As such, several billion dollars worth of investment capital are still waiting to be injected in Vietnam.
Foreign investors believe that opportunities will come in several months, when a lot of big companies make IPOs. They also heard that SSC is compiling a new regulation on foreign investors’ management, which may allow foreign investment funds to open branches in Vietnam sooner than that stipulated in WTO commitments. However, analysts have warned that there would not be many chances for them, as the companies that make IPOs operate in the fields that limits foreign ownership, including banking, telecommunication and finance.
These companies include Vietcombank, BIDV (banking), MobiFone and Vinaphone (telecommunication).
In May 2007, foreign investors doubled the investment in Vietnam’s stocks: they injected $150mil in stocks in May, while the figure was $80mil in April, equal to the sum of money they poured into Vietnam in December 2006, and February 2007 (Source: Vietnam Monitor 2, June 8, 2007, HSBC Hong Kong).
Garry Evans, the stocks analyst of HSBC, who has been keeping close watch over Vietnam’s stock market, has advised investors to remain cautious with their deals, and not to become aggressive buyers at this moment, since the P/E Index proves to be too high: 34. The analyst said that investors should wait for the IPOs to appear in August, October and December.
However, a lot of foreign investors cannot keep patient as they were advised, as they have been put under hard pressure to disburse funds’ capital. Investment funds from the Republic of Korea, for example, have successfully raised $1bil worth of capital and they now compete with others in capital disbursement. Korean investors are the ones who won the right to buy most of Bao Viet’s shares at the recently held auction.
The analyst has named some share items that foreign investors can still buy in, FPT, VHS, PPC, PVD, SJS and ITA (the foreign ownership in these companies is below 20%). If the HCM City Securities Trading Centre (HSTC) does not offer more commodities, the foreign capital flow will not be able to increase.
Meanwhile, HSTC has reported that it has just received the applications for listing from few companies. At this moment, it seems to be not the right time to list, when the daily trading value is just VND500-600bil ($31.25mil).
Source: VNE
Tuesday, April 17, 2007
Pha Lai Thermal Power doubles revenues in 2006
Pha Lai's 2006 revenues more than doubled to 3.6 trillion dong ($223 million) from 1.5 trillion dong in 2005, it said in a statement. Its net profit last year soared to 979 billion dong ($60.7 million) from just 9 billion dong a year ago.
Its shares lost 2,000 dong to close at 69,500 dong ($4.30) before the results were released.
Source: Reuters
Its shares lost 2,000 dong to close at 69,500 dong ($4.30) before the results were released.
Source: Reuters
Wednesday, April 04, 2007
PPC raises 180mio US$ in shares sale
Pha Lai Thermal Power Company (PPC), Vietnam's third-largest listed company, has raised 2.9 trillion dong ($180 million) by selling nearly 41.7 million state shares to the public, the stock exchange said on Tuesday.
Pha Lai sold all 41,664,870 shares on offer to more than 1,460 investors at an auction on Monday at an average price of 69,710 dong ($4.30), the Ho Chi Minh City Securities Trading Center said in a statement.
Foreign investors bought 34% of the shares, the statement said, without giving any buyers' names.
The auction was part of a plan to sell more than 85 million shares to reduce the state utility Vietnam Electricity's (EVN) ownership in Pha Lai to 51% from 78.4%.
Pha Lai shares eased 3,500 dong to close at 74,500 dong ($4.6).
The money raised from Pha Lai share auction is much higher than $111 million the company had initially expected to raise, reflecting investor's interest in betting on the rapid expansion of Vietnam's energy sector.
Power demand is expected to grow 18% this year in Vietnam, which has set a target of 8.5% economic growth this year after 8.17% growth in 2006.
Source: Reuters
Pha Lai sold all 41,664,870 shares on offer to more than 1,460 investors at an auction on Monday at an average price of 69,710 dong ($4.30), the Ho Chi Minh City Securities Trading Center said in a statement.
Foreign investors bought 34% of the shares, the statement said, without giving any buyers' names.
The auction was part of a plan to sell more than 85 million shares to reduce the state utility Vietnam Electricity's (EVN) ownership in Pha Lai to 51% from 78.4%.
Pha Lai shares eased 3,500 dong to close at 74,500 dong ($4.6).
The money raised from Pha Lai share auction is much higher than $111 million the company had initially expected to raise, reflecting investor's interest in betting on the rapid expansion of Vietnam's energy sector.
Power demand is expected to grow 18% this year in Vietnam, which has set a target of 8.5% economic growth this year after 8.17% growth in 2006.
Source: Reuters
Wednesday, March 07, 2007
Pha Lai Thermal Power plans to sell further shares
Pha Lai Thermal Power Co., (PPC) Vietnam's third-largest listed company, said on Wednesday it planned to raise at least 111mio US$ by selling state-held shares to reduce government ownership.
The company said in a statement 41,664,870 shares, or 13.41% of the firm, would be auctioned on April 2 at the Ho Chi Minh City stock marketand the Hanoi over-the-counter exchange at a starting price of 43,000 dong (2.67US$).
The auction is part of a plan to sell more than 85 million shares to reduce the state utility Vietnam Electricity's (EVN) ownership of Pha Lai to 51% from 78.4%.
The stock fell 4,500 dong to 92,500 dong (5.75US$) on Tuesday as the VN Index eased 2.21% to 1,133.31 points after Finance Minister Vu Van Ninh said Vietnam would soon draft a plan to impose income tax on share trading.
Pha Lai made its debut in January on the Ho Chi Minh City Securities Trading Center, Vietnam's main stock market, after moving its listing from Hanoi.
Capitalised at 28.74 trillion dong (1.79 billion US$), it is the third-largest listed company after information technology firm FPT (FPT) and top dairy product maker Vinamilk (VNM).
Pha Lai's two power plants in the northern province of Hai Duong, 65 km (40 miles) east of Hanoi, have a combined capacity of 1,040 megawatts. They produce nearly 6 billion kilowatt hours of electricity per year, 10% of Vietnam's output.
Source: Reuters
The company said in a statement 41,664,870 shares, or 13.41% of the firm, would be auctioned on April 2 at the Ho Chi Minh City stock marketand the Hanoi over-the-counter exchange at a starting price of 43,000 dong (2.67US$).
The auction is part of a plan to sell more than 85 million shares to reduce the state utility Vietnam Electricity's (EVN) ownership of Pha Lai to 51% from 78.4%.
The stock fell 4,500 dong to 92,500 dong (5.75US$) on Tuesday as the VN Index eased 2.21% to 1,133.31 points after Finance Minister Vu Van Ninh said Vietnam would soon draft a plan to impose income tax on share trading.
Pha Lai made its debut in January on the Ho Chi Minh City Securities Trading Center, Vietnam's main stock market, after moving its listing from Hanoi.
Capitalised at 28.74 trillion dong (1.79 billion US$), it is the third-largest listed company after information technology firm FPT (FPT) and top dairy product maker Vinamilk (VNM).
Pha Lai's two power plants in the northern province of Hai Duong, 65 km (40 miles) east of Hanoi, have a combined capacity of 1,040 megawatts. They produce nearly 6 billion kilowatt hours of electricity per year, 10% of Vietnam's output.
Source: Reuters
Thursday, February 22, 2007
Pha Lai Thermal Power Company to auction government's shares
Pha Lai Thermal Power Co. (PPC), Vietnam's third-largest listed company, will auction more than 85 million state-held shares to reduce government ownership of the firm, market regulators said.
The State Securities Commission said in a statement it had allowed the firm to auction shares held by state utility Vietnam Electricity (EVN) representing a 27.4% stake in Pha Lai.
The sale would reduce state ownership of Pha Lai to 51% from 78.4%. The statement, seen on Thursday, did not say how much the auction was expected to raise and PPC has yet to announce details of the sale.
The stock closed flat at 95,000 Vietnam Dong on Feb. 15, the last trading day before Vietnam closed the stock market from Feb. 16 to Feb. 23 for the Lunar New Year holiday.
The sale of EVN shares in PPC is part of EVN's plan to divest ownership in smaller power plants to raise funds for new projects.
The Industry Ministry said last month unlisted ENV would invest 2.63 billion US$ in power generation and grids this year, 23.4% more than in 2006, to meet soaring industrial and consumer demand.
PPC made its debut last month on the Ho Chi Minh City Securities Trading Center, Vietnam's main stock market, after moving its listing from the Hanoi over-the-counter market.
With a market capitalisation of 29.52 trillion dong (1.84 billion US$), the company is the third-largest listed after information technology firm FPT (FPT) and top dairy product maker Vinamilk (VNM).
PPC's two power plants in the northern province of Hai Duong, 65 km (40 miles) east of Hanoi, have a combined capacity of 1,040 megawatts. They produce nearly 6 billion kilowatt hours of electricity per year, 10% of Vietnam's output.
Source: Reuters
The State Securities Commission said in a statement it had allowed the firm to auction shares held by state utility Vietnam Electricity (EVN) representing a 27.4% stake in Pha Lai.
The sale would reduce state ownership of Pha Lai to 51% from 78.4%. The statement, seen on Thursday, did not say how much the auction was expected to raise and PPC has yet to announce details of the sale.
The stock closed flat at 95,000 Vietnam Dong on Feb. 15, the last trading day before Vietnam closed the stock market from Feb. 16 to Feb. 23 for the Lunar New Year holiday.
The sale of EVN shares in PPC is part of EVN's plan to divest ownership in smaller power plants to raise funds for new projects.
The Industry Ministry said last month unlisted ENV would invest 2.63 billion US$ in power generation and grids this year, 23.4% more than in 2006, to meet soaring industrial and consumer demand.
PPC made its debut last month on the Ho Chi Minh City Securities Trading Center, Vietnam's main stock market, after moving its listing from the Hanoi over-the-counter market.
With a market capitalisation of 29.52 trillion dong (1.84 billion US$), the company is the third-largest listed after information technology firm FPT (FPT) and top dairy product maker Vinamilk (VNM).
PPC's two power plants in the northern province of Hai Duong, 65 km (40 miles) east of Hanoi, have a combined capacity of 1,040 megawatts. They produce nearly 6 billion kilowatt hours of electricity per year, 10% of Vietnam's output.
Source: Reuters
Saturday, January 27, 2007
Thermal power company lists in HCMC
The Pha Lai Joint-Stock Thermal Power Company made a debut at the Ho Chi Minh City Securities Trading Centre on Jan. 26 with an offer of over 310 million shares for sale.
The power supplier with over 3 trillion VND (almost 190mio US$) 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$) each on the Ho Chi Minh City Securities Trading Center after the firm moved its listing from the Hanoi over-the-counter stock market, where they last traded at 65,600 VND.
Brokers said more shares in Pha Lai Thermal Power Co. would be offered to the public as the key shareholder, dominant state utility Electricity of Vietnam (EVN) now holding 78% of stake, is expected to reduce its ownership to 51%.
Source: VNA, Thanh Nien
The power supplier with over 3 trillion VND (almost 190mio US$) 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$) each on the Ho Chi Minh City Securities Trading Center after the firm moved its listing from the Hanoi over-the-counter stock market, where they last traded at 65,600 VND.
Brokers said more shares in Pha Lai Thermal Power Co. would be offered to the public as the key shareholder, dominant state utility Electricity of Vietnam (EVN) now holding 78% of stake, is expected to reduce its ownership to 51%.
Source: VNA, Thanh Nien
Monday, January 15, 2007
Power company to list on Ho Chi Minh City stock exchange
Pha Lai thermo-electric Joint Stock Co., coded PPC, scheduled to list on HCM City Securities Trading Centre on January 26 after ending its trading on Ha Noi Securities Trading Centre on Jan. 13.
PPC shares were traded in Ha Noi on May 19 last year at a face value of 10,000 VND (0.62 US$) per unit and with the total volume of 307 million shares.
The company also has the largest chartered capital of any company listed in the domestic stock market.
PetroVietnam Finance Co, one of the company's largest shareholders, has started selling 186,000 of a total 6,569,500 million shares to re-structure its investment profile since January 10.
Source: VNA
PPC shares were traded in Ha Noi on May 19 last year at a face value of 10,000 VND (0.62 US$) per unit and with the total volume of 307 million shares.
The company also has the largest chartered capital of any company listed in the domestic stock market.
PetroVietnam Finance Co, one of the company's largest shareholders, has started selling 186,000 of a total 6,569,500 million shares to re-structure its investment profile since January 10.
Source: VNA
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