EVN to Raise US$875Mln This Year to Set up Affiliates
The Electricity of Vietnam Group (EVN) plans to raise at least VND14 trillion (US$875 million), via issuing shares to the public, to set up more than 30 joint stock companies in 2007.
EVN will set up 32 new companies, of which 24 will be involved in power generation, others in services, hotel, and finance and real estate sectors.
The power generators will have investment capital between VND375 billion and VND4 trillion.
The EVN Finance Company alone will have a paid-in capital up to VND1.6 trillion.
The group will hold 51 per cent stake in these firms. (Vietnam Economic Times, Law)
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