Vu Phong Energy Group Increases Stake in C47 with Planned Stock Purchase

By agreement and order matching method, Vu Phong Energy Group Joint Stock Company registered to purchase 550,000 shares of C47 of Construction Joint Stock Company 47 from March 2 to March 31. Mr. Phong, Pham Nam is the Vu Phong Energy Group Chairman and is also the Chairman of the C47 Board of Directors, with over 2.44 million stocks equivalent to 8.87 percent of the company’s capital.

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Vu Phong Energy Group Makes Strategic Investment in C47

If the deal goes through, Vu Phong Energy Group would own 2.77 million C47 stocks for a capital ratio of 10.06 percent.

Vu Phong Energy Group, a company with a proven track record in the renewable energy sector, has recently acquired a significant stake (8.06%, equivalent to 2.22 million shares) in Construction Company 47 (C47) through convertible bonds. This strategic investment positions Vu Phong Energy Group to capitalize on new opportunities and achieve its long-term goals.

Strategic investment for growth: C47 is a well-established construction company with expertise in irrigation and hydropower projects. Vu Phong Energy Group’s investment in C47 signifies a strategic move to expand market share and increase revenue and profit. C47’s focus on clean energy aligns with Vu Phong Energy Group’s core business of providing EPC (Engineering, Procurement, and Construction) services, Power Purchase Agreements (PPAs), and Operation & Maintenance (O&M) for solar, wind, and other renewable energy projects. This collaboration positions both companies to become key players in Vietnam’s clean energy transition, contributing to the country’s sustainable development goals.

Leveraging expertise for mutual benefit: The combined expertise of Vu Phong Energy Group in renewables and C47’s experience in construction projects like hydropower and water tunnels can lead to groundbreaking developments in the clean energy sector. Vu Phong Energy Group’s experience with wind power projects can also be instrumental in supporting C47’s plans to expand into wind energy development, as mentioned in their 2021-2025 plan. This synergy can lead to the creation of innovative solutions and the successful execution of large-scale clean energy projects.

Financial growth potential: As Chairman Mr. Phong, Pham Nam, has indicated, C47 anticipates a promising future with a projected revenue and profit increase of 25% annually from 2022 onwards. This growth trajectory, coupled with potential dividends from C47, presents a significant opportunity for Vu Phong Energy Group to increase revenue and profit and achieve its financial goals. The investment aligns with Vu Phong Energy Group’s focus on sustainable development by contributing to clean energy infrastructure and economic growth.

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Source: Nhd.vn