Petrolimex registers to sell another 8 million treasury stocks

Friday, Jul 30, 2021 10:11

A customer buying gasoline at a Petrolimex station. — VNA/VNS Photo

Viet Nam National Petroleum Group (Petrolimex, PLX) has just released an announcement to sell treasury stocks by order matching method on the Ho Chi Minh Stock Exchange (HoSE).

Accordingly, Petrolimex registered to sell 8 million treasury stocks from August 6 to September 3. Once the deal is completed, the company’s treasury stocks will decline to 17,064,846 from 25,064,846.

In its previous deals, Japanese petroleum company, ENEOS Corporation, successfully bought most of Petrolimex’s treasury stocks.

Of which, ENEOS Corporation bought all 13 million treasury shares of Petrolimex sold from August 27 to September 14, 2020 and held 1 per cent of Petrolimex shares.

Then, from March 1 to March 19, 2021, Petrolimex announced that it had sold 25 million treasury shares to ENEOS Corporation with an average trading price of VND57,057 per share, earning more than VND1.4 trillion (US$62.1 million).

From May 24 to June 15, ENEOS Corporation reported that it has completed the purchase of 25 million treasury stocks of Petrolimex.

After these deals, ENEOS Corporation increased its ownership in Petrolimex from 38 million shares (equivalent to 2.94 per cent) to 63 million shares (4.87 per cent) and is on track to become a major shareholder.

Meanwhile, JX Nippon Oil & Energy Vietnam Co., Ltd, now RNEEOS Vietnam Co., Ltd, currently holds 103,528,476 shares, accounting for 8 per cent of Petrolimex shares.

JX Nippon Oil & Energy Vietnam is a subsidiary of ENEOS Corporation and a major shareholder of Petrolimex.

Currently, Toshiya Nakahara, the senior leader at ENEOS Corporation, is also a member of the Board of Directors of Petrolimex.

In the 2020 - 2021 divestment programme, Petrolimex continues to reduce state ownership to 51%.

On the stock market, PLX shares were traded at VND50,500 per share on Wednesday morning. — VNS

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