<article>The Vietnamese government has raised $308 million (VND6.996 trillion) by selling 20 per cent of PetroVietnam Power (PV Power) in an initial public offering (IPO) on the Hanoi Stock Exchange on January 31.
The proceeds were higher than the government&#8217;s expectations of at least $295 million from the IPO.</article>

The Vietnamese government has raised $308 million (VND6.996 trillion) by selling 20 per cent of PetroVietnam Power (PV Power) in an initial public offering (IPO) on the Hanoi Stock Exchange on January 31.
The proceeds were higher than the government&#8217;s expectations of at least $295 million from the IPO.
Nearly 2,000 investors including 94 organizations and 1,834 individuals participated in the auction. Foreign investors bought 284.44 million shares on offer and now hold a combined 12.14 per cent stake in the state-owned firm.
PV Power will further sell 676 million shares or 29 per cent of its charter capital to strategic investors. <a href="https://www.dealstreetasia.com/tag/PetroVietnam/">Vietnam National Oil and Gas Group</a> (PetroVietnam) will hold 51 per cent of PV Power on behalf of the government after the electricity firm becomes a joint-stock company.
The market capitalization of PV Power at the share price of VND14,400 is estimated at $1.48 billion while its charter capital is projected at VND23.4 trillion ($1.04 billion) after the equitization process is completed.
According to estimates by Ho Chi Minh City Securities Corporation (HSC), PV Power’s net sales in 2017 stood at VND31.5 trillion ($1.38 billion), up 12 per cent year-on-year, while its after-tax profit stood at VND1.9 trillion ($83.6 million), up 25 per cent.
Earlier this month, the government raised $245 million by selling a 7.79 per cent stake in refinery operator Binh Son and another $184 million by selling 20 per cent of PVOil.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietnam-raises-184m-selling-20-pvoil-ipo-91167/">Vietnam raises $184m by selling 20% of PVOil in IPO</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietnam-raises-245m-refinery-operator-binh-sons-ipo-90550/">Vietnam raises $245m from refinery operator Binh Son’s IPO </a>

Vietnam raises $308m by selling 20% of PV Power in IPO

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