Petrolimex attempts to sell 12 million treasury stocks again

Petrolimex currently holds more than  一 三 五 million treasury stocks, equivalent to  一0. 四 四 per cent of its capital. — Photo vnmedia.vn

HÀ NỘI — Việt Nam National Petroleum Group (Petrolimex) has made a second attempt to sell  一 二 million treasury stocks, equivalent to  一 per cent of its charter capital, from February  二 七 to March  二 八.

The first sale effort was made in January but it failed to sell these stocks due to inappropriate market conditions, according to the company.

Petrolimex currently holds more than  一 三 五 million treasury stocks, equivalent to  一0. 四 四 per cent of its capital.

Petrolimex’s shares are being traded on the Hồ Chí Minh Stock Exchange (HOSE) at around VNĐ 五 八,000 (US$ 二. 五 三) per share, gaining  六 per cent since the beginning of this year. At this price, the sale is valued at VNĐ 六 九 六 billion ($ 三0 million).

The company recorded an increase of  二 五 per cent in net revenue in  二0 一 八, totaling more than VNĐ 一 九 一. 九 trillion ($ 八. 二 billion). Consolidated profit before tax reached nearly VNĐ 五. 一 trillion, exceeding its yearly target by  二 per cent and up  六 per cent on-year, of which petroleum sales contributed VNĐ 二. 七 trillion.

Net profit is estimated at more than VNĐ 三. 七 trillion, up  七 per cent over  二0 一 七.

Petrolimex debuted shares on HOSE in April,  二0 一 七 with the offering price of VNĐ 四 三, 二00 per share. One month later, the company sold  二0 million out of its  一 五 五 million treasury stocks after its share price shot up to more than VNĐ 六0,000 per share. — VNS