People fill up at a Petrolimex gas station in HCM City. Petrolimex posted a profit last year, after suffering a loss in 2014. — Photo petrolimexsg
The Viet Nam National Petroleum Group (Petrolimex) has announced the sale of all 20 million registered treasury shares at a transaction value five times higher than par value.
According to the group, the shares were purchased at an average price of VND50,553 (US$2.22) from May 4 to 23 through transactions at the HCM Stock Exchange.
The sale helps draw Petrolimex’s stock closer to joining the VN30 Index, which tracks the performance of the 30 largest firms by market capitalisation. It is required that stocks of all the company in the list must have free-float rate of at least 5 per cent.
Before being listed on the stock market, the Petrolimex rate was 3.6 per cent.
Petrolimex owns more than 135 million treasury stocks after the sale. — VNS