EVN Genco 3 IPO raises a meagre $8.13m in yet another dud for Vietnam

Vietnam raised VND184.8 billion ($8.13 million) from the initial public offering (IPO) of Power Generation Corporation 3 (Genco 3), a subsidiary of Vietnam Electricity Corporation (EVN), on February 9. The proceeds were a measly 3 per cent of the government’s target of raising at least VND6.5 trillion ($286 million) from the stake sale.