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PVcomBank sells oil shares

Update: August, 30/2014 - 07:59

HCM CITY (VNS)— Vietnam Public Bank (PVcomBank) will sell nearly VND600 billion (US28.4 million) stakes in two oil and gas companies in the next two months in an effort to restructure its portfolio.

The bank will sell five million shares in PetroVietnam Technical Services Corporation (PVS) from September 4 to October 1. With the current price of more than VND40,000 ($1.90) a share, it expects to collect VND200 billion ($9.5 million). After the sale, its holding will reduce from more than 26 million shares to nearly 21.1 million.

The bank also put four million shares of PetroVietnam Drilling & Well Services Corporation (PVD) up for sale.— VNS

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