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

The Viet 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 Ho Chi Minh Stock Exchange with code PLX, inched up 0.2 per cent to trade at VND46,600 (US$2.02) apiece on Thursday.

The petrol and fuel seller between June 16 and July 2 sold 15 million treasury shares for average VND45,318 apiece to receive nearly VND680 billion.

Due to the COVID-19 pandemic, Petrolimex forecast total revenue in 2020 will fall 35 per cent on-year to VND122 trillion ($5.28 billion) and pre-tax profit will drop 72 per cent on-year to VND1.57 trillion.

In the first six months of the year, the company earned VND65 trillion worth of total revenue but suffered a net loss of VND1.2 trillion. — VNS