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VietNamNews

Petrolimex to offer 13 million treasury shares for sale

Update: August, 13/2020 - 14:29

 

A Petrolimex gas station. — Photo petrolimex.com.vn

HÀ NỘI — The Việt Nam National Petroleum Group (Petrolimex) plans to sell 13 million treasury shares, the company said on Wednesday.

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

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

Petrolimex shares, listed on the Hồ Chí Minh Stock Exchange with code PLX, inched up 0.2 per cent to trade at VNĐ46,600 (US$2.02) apiece on Thursday.

The petrol and fuel seller between June 16 and July 2 sold 15 million treasury shares for average VNĐ45,318 apiece to receive nearly VNĐ680 billion.

Due to the COVID-19 pandemic, Petrolimex forecast total revenue in 2020 will fall 35 per cent on-year to VNĐ122 trillion ($5.28 billion) and pre-tax profit will drop 72 per cent on-year to VNĐ1.57 trillion.

In the first six months of the year, the company earned VNĐ65 trillion worth of total revenue but suffered a net loss of VNĐ1.2 trillion. — VNS

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