The equitization at Power Generation Corporation 1 – EVNGENCO 1 is highly focused in order to ensure the schedule of enterprise value announcement in June 2018.
On March 27, 2018, EVNGENC1 has submitted to Vietnam Electricity (EVN) the amendment and supplementation of the equitization plan of the parent company - EVNGENC1. The Corporation has also completed enterprise value of the parent company and on March 30, 2018 has submitted to EVN the supplementation of the financial settlement plan and the enterprise valuation result at 0.00 am on January 1, 2018.
EVNGENCO1 has reported to the Equitization Steering Committee the arrangement and settlement of real estates for equitization. The draft of Charter of Joint Stock Company – Power Generation Corporation 1 has also been completed.
Currently, EVNGENCO 1 is completing the land using plan after equitization according to Decree No. 167/2017/NĐ-CP and will submit it to the Ministry of Finance in compliance with regulation. EVNGENCO 1 also continues cooperating with consulting partner to explain the financial settlement plan and the result of enterprise value to EVN and relevant ministries, ensuring the schedule for the Ministry of Industry and Trade to announce the enterprise value of the parent company - EVNGENCO 1 in June 2018; as well as finalizing the employment plan and business plan of the Corporation after equitization.
In 2016, the profit after tax of EVNGENCO 1 was VND 208 billion while it reached VND 396 billion in 2015.
Currently, among 3 power generation corporations directly under EVN, EVNGENCO 3 has completed the equitization after divestment and IPO at the beginning of February 2018.