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Over 1.1 billion shares of EVNGENCO3 debut on HoSE

The Saigon Times

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HCMC – Power Generation Joint Stock Corporation 3 (EVNGENCO3) today, February 10 listed over 1.12 billion shares on the Hochiminh Stock Exchange (HoSE) under the code PGV.

With a reference price of VND39,480 per PGV share and a margin of 20%, the corporation’s market capitalization was estimated at over VND44.3 trillion.

Earlier in 2018, PGV was traded on the Unlisted Public Company Market (UPCoM), making it the first among the three power generation corporations under the Vietnam Electricity Group listing shares.

Speaking at the listing ceremony, Dinh Quoc Lam, chairman of EVNGENCO3, said that the listing on HoSE gave the firm both opportunities and challenges to improve prestige and transparent governance and increase its access to local and foreign investors.

EVNGENCO3, with a chartered capital of over VND11.2 trillion, runs many large-scale gas- and coal-fired thermal power plants and hydropower and solar power ones, the local media reported.

Closing the debut session today, PGV gained 12.4% against its reference price at VND44,400.

On the southern bourse, the VN-Index added 1.41 points, or 0.09%, from the session earlier, at 1,506.79, with 209 stocks rising and 226 others losing. Over 680 million shares worth VND21.9 trillion changed hands, down 14% in volume and 13% in value against the previous session.

The Hanoi Stock Exchange also saw the HNX-Index improve 4.04 points, or 0.95%, from the day earlier, at 428.24. Trade volume totaled over 55.3 million shares valued at VND1.7 trillion changing hands.

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