Tepco invests about $33 million in the purchase of shares in a Vietnamese electrical firm

Tepco Renewable Power Singapore Pte. Ltd. recently said that it has acquired 26.6 million VPD shares or around 25% of the capital of Vietnam Electricity Development Joint Stock Company (VNPD). Thanks to the transaction on December 20, this organization became a significant stakeholder in the company.  

This session saw foreign investors buy exactly 26.6 million VPD shares at the price of 29,500 dong/share ($1.2), accordingly, the amount Tepco spent was about $785 billion ($33 million).

EVN Genco1 now holds more than 39 million VPD shares, or 36.65% of the company's capital, making it the largest stakeholder. Tuan Loc Construction Investment and Pha Lai Thermal Power Company, two significant shareholders, followed next with ownership shares of 17.2% and 10.6%, respectively.

Tuan Loc Group recently filed paperwork to sell all 18.3 million of the company's shares, which VPD now holds, in order to change the financial structure for the period between December 12, 2022, and January 16, 2023. This unit most likely transferred shares to Tepco.

Source: ZingNews