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Banking & Finance

EVN to fully exit stock market

Released at: 12:23, 16/05/2015

EVN to fully exit stock market

Auction of shares in ABS on June 4 will see electricity corporation's involvement in the stock market come to an end.

by Minh Tien

Electricity of Vietnam (EVN), the national electricity corporation, will sell all of its shares in An Binh Securities (ABS) under the government-directed restructure that calls for it to divest from its non-core businesses.

An auction will be conducted for EVN’s 11,486,853 ABS shares on June 4, at a starting price of VND10,000 ($0.5). It will be its final divestment from the stock market.

It has already divested from the EVN Land Saigon JSC, the Land Electricity Central JSC, and part of EVN Finance, for a total of VND691 billion ($31.8 million), or 40.8 per cent of its divestment target.

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