<article>The Power Generation Corporation 3 (<a href="http://Genco 3">Genco 3</a>), under Vietnam Electricity Corporation (<a href="http://EVN">EVN</a>), plans to offer 267 million shares, equivalent to 12.83 per cent of charter capital, in an initial public offering (IPO) scheduled for February 9.</article>

The Power Generation Corporation 3 (<a href="http://Genco 3">Genco 3</a>), under Vietnam Electricity Corporation (<a href="http://EVN">EVN</a>), plans to offer 267 million shares, equivalent to 12.83 per cent of charter capital, in an initial public offering (IPO) scheduled for February 9.
According to the corporation’s announcement at its roadshow on Thursday, it will list 267 million shares on Ho Chi Minh City Stock Exchange. at  VND24,600 ($1.08). Genco 3  aims to raise at least VND6.5 trillion ($286 million) with the offering.
Genco 3, which is owned by EVN, would also offer up to an additional 749 million shares, equivalent  to 36 per cent of charter capital to a maximum of three strategic investors, the power corporation said in a statement on its website.
The Genco 3 privatization plan, approved by Deputy Prime Minister Vuong Dinh Hue, will maintain its current State-owned capital and issue shares to increase its chartered capital.
After the IPO, Genco 3&#8217;s charter capital is expected to increase from VND10.56 trillion ($464.6 million) to VND20.8 trillion ($915.2 million), equivalent to over 2.08 billion shares.
The State-power group EVN currently owns 51 per cent of Genco 3’s charter capital. It would divest its capital at the subsidiary to less than controlling level after 2019 if successful in restructuring its debts and negotiating with lenders.
Genco 3’s revenue in 2017 was estimated at over VND34.6 trillion ($1.52 billion), profit at VND1.27 trillion ($55.8 million). Its total capacity reached 6,304MW, accounting for 16 per cent of the national electricity system.
Another major in the power sector, <a href="http://PV Power">PV Power</a>, a power arm of PetroVietnam will also sell 20 per cent stake, aims to raise at least $295 million from its IPO on January 31.
Also Read:
<a href="https://www.dealstreetasia.com/stories/pv-power-revised-ipo-plan-80160/">Vietnam: PV Power to sell 20% in IPO in revised plan, 29% strategic stake</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/pv-power-may-raise-600m-from-ipo-key-investors-70260/">Vietnam’s PV Power eyes $600m from IPO, strategic investors</a>

Vietnam: EVN's subsidiary Genco 3 to conduct IPO on Feb 9

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Vietnam: EVN's subsidiary Genco 3 to conduct IPO on Feb 9

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