Thermoelectric plants allowed to raise capital through public offerings

VNGOVNet – Following the proposal of the Vietnam Electricity Group (EVN) and recommendations from the Ministry of Planning and Investment and the Ministry of Finance, on behalf of the PM, Standing Deputy PM Nguyễn Sinh Hùng gave a direction on January 04 about raising capital for Hải Phòng and Quảng Ninh thermoelectric joint-stock companies.

January 06, 2007 7:38 AM GMT+7

The Deputy PM agreed that the EVN would reduce its share in each of the power plants' chartered capital to 51%.

To compensate the capital shortfalls, the Management Boards of the two companies are allowed to decide public offerings for capital raising through shareholders’ meetings in conformity with the Law on Enterprise and market demand. If the raised capital is still insufficient, the EVN is responsible for filling up the shortages to ensure the plants' schedules.

By Phương Uyên

(Source: Document 42/VPCP-KTTH)