PetroVietnam Power Corporation (PV Power, Stock Code: POW, HoSE) has announced the materials for its Extraordinary General Meeting of Shareholders (EGM) scheduled for September 25, 2025, in Hanoi.
A key highlight is PV Power’s proposal to increase its chartered capital through the issuance of nearly 726 million shares for dividends, public offerings, and shareholder bonuses.
Specifically, the company plans to offer over 281 million shares to existing shareholders at VND 10,000 per share. The rights ratio is 12%, meaning shareholders holding 100 shares can purchase an additional 12 shares.
The expected proceeds from this offering, totaling over VND 2,810.2 billion, will fund the Nhon Trach 3 and Nhon Trach 4 Power Plant projects.
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The offering will commence immediately upon receiving the Public Offering Registration Certificate from the State Securities Commission, expected in Q1/2026.
Additionally, PV Power will issue nearly 351.3 million bonus shares to shareholders at a 15% rights ratio, allowing shareholders with 100 shares to receive 15 new shares.
The total issuance value, based on par value, is over VND 3,512.8 billion, funded from the development investment fund in PV Power’s 2024 audited financial report.
The company also plans to issue approximately 93.7 million shares as dividends, with a 4% rights ratio, enabling shareholders with 100 shares to receive 4 new shares.
The total issuance value, based on par value, exceeds VND 936.7 billion, sourced from undistributed after-tax profits in the 2024 audited financial report.
Both bonus share and dividend share issuances are scheduled for 2025, pending approval from the State Securities Commission.
Upon completion of these issuances, PV Power’s chartered capital will rise from over VND 23,418.7 billion to more than VND 30,678.5 billion.
Beyond capital increase plans, PV Power will also present proposals to amend its business lines and update its headquarters address.
PV Power’s leadership noted that, per regulations, the company must notify the maximum foreign ownership ratio (FOR) before increasing capital through share issuances. However, some of PV Power’s current business lines have an FOR below 50%.
Consequently, PV Power must adjust by removing activities restricted to foreign investors. Specifically, the company will not engage in multi-purpose hydropower and nuclear power projects of significant socio-economic importance; labor export services; or national power grid transmission and dispatch.
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‘Powering the Nation: A Giant’s Bold Move’
The upcoming conference will feature a notable agenda item: the approval of a share offering/issuance scheme to boost PV Power’s charter capital from 23.418 trillion VND to 30.678 trillion VND, representing an increase of 7.259 trillion VND in charter capital.
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This company is Vietnam’s second largest independent power producer, with an impressive installed capacity of 4,230 MW. A true powerhouse in the industry, this enterprise illuminates the nation with its bright ideas and innovative energy solutions.
