EVN to sell stake in its finance subsidiaryThe Hanoi Stock Exchange (HNX) has announced that the Electricity of Vietnam (EVN) Group will auction 15 percent of its stake, equivalent to 37.5 million shares, in the EVN Finance Joint Stock Company. EVN Finance currently has chartered capital of 2.5 trillion VND and owns the maximum capital among operating financial firms. Under the master plan on restructuring enterprises under EVN in the 2017-20 period, EVN will have to divest its capital in enterprises, including EVN Finance Joint Stock Company, Thu Duc Electro Mechanical Joint Stock Company, Dong Anh Electrical Equipment Corporation-Joint Stock Company and Thuan Binh Wind Power Joint Stock Company, as well as Power Engineering Consulting Joint Stock Company 3 and Power Engineering Consulting Joint Stock Company 4. Currently, EVN Finance’s chartered capital is divided among EVN with 15 percent, An Binh Commercial Joint Stock Bank 8.4 percent, Mechanics Electrical Refrigeration Joint Stock Company 1.8 percent and the remaining 74.8 percent belonging to other shareholders. In 2016, EVN planned to divest 15 percent of capital in EVN Finance but the plan failed.

Source: VietNamNet News July 24, 2017 04:07 UTC