More than 2.34 billion shares of the PetroVietnam Power Corporation (PV Power) will be listed on the Ho Chi Minh Stock Exchange (HoSE) under the code POW on January 14, 2019.
The firm started to trade its shares on the Unlisted Public Company Market (UPCoM) on March 6 this year, at the starting price of VND14,900 per share, according to PV Power Chairman Ho Cong Ky.
PV Power has a charter capital of more than VND23.4 trillion (US$1 billion), with the National Oil and Gas Group (PVN) as the biggest shareholder at nearly 80% of ownership.
The trading of PV Power on UPCoM came after the company successfully sold more than 468 million shares, or 20% of its capital, for nearly VND7 trillion (US$307.3 million) in its initial public offering (IPO) on January 31. Foreign investors combed about 60% of the share offer.
On December 17, the HoSE approved the listing of PV Power on the southern bourse, nine months after it debuted on the UPCoM, the shortest time ever a stock was shifted from UPCoM to HoSE, Ky said.
PV Power will close its shareholder list on December 27 and stop trading on the UPCoM the following day to prepare for the shifting.
PV Power is the second-largest electricity producer in Vietnam behind Vietnam Electricity (EVN), operating eight power plants with a total combined capacity of 4.2GW.
By the end of the first quarter of 2018, PV Power’s output reached 5.725 million kWh, an increase of 8% compared to the plan. As a result, the total revenue reached nearly VND8.45 trillion (US$369 million), up by 11% compared to the plan. Notably, the after-tax profit reached VND780.2 billion, up by 71.8% against the plan.
In the second quarter of 2018, PV Power set a target of generating 5.928 million kWh of electricity and earn a revenue of VND8.3 trillion. The company expects its after-tax profit to reach VND499 billion and will contribute VND330 billion to the State budget.
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Vietnam has built a solid semiconductor and electronics industry before joining ITSI, attracting major US semiconductor companies. Intel Products Vietnam is one of Intel's largest assembly and testing facilities worldwide, while chip design companies such as Synopsys, Cadence, Marvell and Qualcomm have established engineering and research centres in the Southeast Asian country.
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The country's agro-forestry-aquatic product exports reached nearly 42.8 billion USD in the January–July period, up 7.5% year-on-year and equivalent to almost 60% of the annual target of 74 billion USD.
During the first seven months of 2026, Vietnam attracted more than 38 billion USD in registered FDI, up nearly 58% year-on-year. More importantly, the increase was driven by large-scale, high-tech projects rather than a surge in the number of new investments, signalling a significant improvement in the quality of capital inflows.
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Household deposits at banks reached a new high of 10.8 quadrillion VND (414 billion USD) at the end of May, up more than 108 trillion VND from April and increasing by 4.76% from the beginning of the year, equivalent to nearly 492 trillion VND.
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