Vietnam's PV Power could raise US$600m from IPO and key investors

Ho Chi Minh City

PETROVIETNAM Power Corp, Vietnam's second-largest power producer, said the sale of a 49 per cent stake to strategic investors and through an initial public offering could fetch about US$600 million.

PV Power, as it is better known, is open to selling as much as 60 per cent of the company, contingent on government approval, according to a document posted on its website.

The IPO and stake sale to one or two strategic investors are expected to occur simultaneously in …