Vinh Son - Song Hinh Hydropower JSC

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On March 10, 2005 the state-owned Electricity of Vietnam (EVN) sold 43.6 million shares (40% stake) in Vinh Son - Song Hinh Hydropower JSC to 215 investors for US$29.4 million (VND462 billion) at Ho Chi Minh City Center, Hanoi Securities Trading and the plant's head office in Binh Dinh province. The lowest price per share was $0.66 (VND1 0,500) and the highest $1.89 (VND 30,000) per share, compared with the face value of $0.63 (VND 10,000). Vinh Son - Song Hinh Hydropower JSC was an independent power producer which generated and sold electricity to the national power grid through two hydropower plants, Vinh Son and Song Hinh with the total installed capacity of 138MW. The plants also served irrigation land in Binh Dinh and Phu Yen provinces. Song Hinh Hydropower plant became operational on October 23, 1999 while Vinh Son Hydropower plant l on April 1, 2001. The partial divestiture of Vinh Son-Song Hinh Hydropower Plant was part of a new government regulation that required selling at least 20% stakes in electricity generation firms to minority shareholders. The Vinh Son-Song Hinh Hydropower Plant was the first affiliate of the state-owned Electricity of Vietnam (EVN) that became a publicly traded power company. None None