Petrolimex to offer 13 million treasury shares for sale

The Vietnam National Petroleum Group (Petrolimex) plans to sell 13 million treasury shares, the company said on August 12.

 

If successful, the total number of treasury shares will fall to more than 75 million.

 

The decision was made on August 11, but there is no schedule for the share sale yet.

 

Petrolimex shares, listed on the Ho Chi Minh Stock Exchange with code PLX, inched up 0.2 percent to trade at 46,600 VND (2.02 USD) apiece on August 13.

 

The petrol and fuel seller between June 16 and July 2 sold 15 million treasury shares for average 45,318 VND apiece to receive nearly 680 billion VND.

 

Due to the COVID-19 pandemic, Petrolimex forecast total revenue in 2020 will fall 35 percent on-year to 122 trillion VND (5.28 billion USD) and pre-tax profit will drop 72 percent on-year to 1.57 trillion VND.

 

In the first six months of the year, the company earned 65 trillion VND worth of total revenue but suffered a net loss of 1.2 trillion VND.

 

Source: Vietnam News Agency

 

Leave a Reply