"It will be the biggest auction to be carried out in stock trading centers in Hanoi and Ho Chi Minh City," an official of the Hanoi Securities Trading Center told AFP.
The exercise would raise funds for the Pha Lai thermal power company, which runs a 600 megawatt plant in the northern province of Hai Duong.
The company has registered capital of 3.1 trillion dong (195 million dollars), the official said.
"Around 72.9 million shares with a face value of 10,000 dong (0.6 dollars) will be auctioned on November 25," she said. "The company will use the funds raised through the auction for domestic investment and business expansion."
According to the company's online profile, it plans to use the funds to upgrade its maintenance centre and develop activities in other sectors, such as cement and construction materials.
The company expects to earn an after-tax profit of 487.6 billion dong (30.8 million dollars) this year, rising to 494 billion dong by 2007.