Vietnam National Petroleum Group (Petrolimex) sold all its treasury shares between 26/8 and 16/9. The average price per share was 36,252 dong, generating nearly 844 billion dong.
This morning, Petrolimex shares traded around 37,500 dong, with a market capitalization of nearly 48,000 billion dong.
Petrolimex's leadership previously stated that the treasury share transaction helped the group enhance its financial capacity, balance long-term capital, and meet public company conditions.
According to the Securities Law, a public company must have at least 10% of its voting shares owned by a minimum of 100 minority shareholders.
Before the transaction, Petrolimex had two major shareholders: the Ministry of Finance (representing state capital) and ENEOS. Over 43,000 minority shareholders held a total of 9,42% of the capital. By selling all treasury shares through matching orders on the stock exchange, minority shareholder ownership increased to approximately 11,2%.
Petrolimex currently holds about one-half of the retail petroleum market share. The group aims for a 7% revenue increase this year to 330,300 billion dong, while pre-tax profit is expected to slightly decrease to 3,370 billion dong.
Cumulatively for the first six months, the group generated nearly 235,000 billion dong in revenue, averaging about 1,300 billion dong per day, one and a half times that of the same period. Pre-tax profit reached approximately 2,870 billion dong, a 43% increase compared to the first half of last year.
Petrolimex leaders stated that the profit increase was primarily due to sales volume exceeding plans and the reversal of inventory devaluation provisions. Supply chain management, inventory balancing, and oil price fluctuation risk management during this period were also conducted prudently, closely tracking market trends to minimize adverse impacts on business efficiency.
Petrolimex added that positive results also stemmed from significant contributions from international business units and subsidiaries specializing in jet fuel, petrochemicals, gas, warehousing, insurance, and services.
Phuong Dong
