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Hydropower company announces public offer

The Da Nhim-Ham Thuan-Da Mi Hydropower Joint Stock Company will make an initial public offering of almost 106 million shares on June 30 through an auction to be held at the HCM City Stock Exchange.
The Da Nhim-Ham Thuan-Da Mi Hydropower Joint Stock Company will make aninitial public offering of almost 106 million shares on June 30 throughan auction to be held at the HCM City Stock Exchange.

The reserve price has been fixed at 14,000 VND.

The IPO will reduce the State's stake in the company to 75 percent.

Da Nhim-Ham Thuan-Da Mi has four power plants in Lam Dong,Ninh Thuan and Binh Thuan provinces with a total capacity of almost643MW.

It is the third largest hydropwoper producerin Vietnam , accounting for around 4 percent of the total commercialelectricity output.

However, with a number ofprojects under development by others, its share is set to decline.

The company has stakes in hydropower projects like A Vuong,Serepok, Se San 4 and Song Ba Ha, and plans to invest in wind powerprojects in Ninh Thuan and Binh Thuan.

The companyalso has interests in passenger transport, afforestration, water supplyand real estate.

It has set itself a net profittarget of 251 billion VND (13.2 million USD) this year and 254 billionVND in 2011./.

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