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Crude Oil Tanker named PVT MERCURY is one of the vessels of Petrovietnam Transportation Corporation in Dung Quat Oil Refinery. — Photo dqsy.vn
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HA NOI (Biz Hub) — The Vietnam Oil and Gas Group (PVN) registered to sell more than 19.8 million shares of the PetroVietnam Transportation Corporation (PVT) on November 20.
The group said that the trading of the shares, which are equivalent to a 7.41 per cent stake in PVT, was expected to be done via negotiations or a matching order in the local stock market, between November 24 and December 23 this year.
Currently, PVN holds more than 149.4 million shares, or a 58.41 per cent stake, in PVT. After the sale of the shares, the group will still have 130.48 million shares or a 51 per cent stake.
PVT, established in 2002 in HCM City, is a member company of PVN that provides maritime transportation and services to the oil and gas industry in Viet Nam and abroad. In the first nine months of this year, PVT gained net revenue of VND3.88 trillion, a 10 per cent increase over the same period last year.
According to the group, the sale of shares is part of its restructuring plan that was approved by Prime Minister Nguyen Tan Dung in August.
Earlier, PVN registered to sell about 7 million shares or a 11 per cent stake in its member firm, the PetroVietnam General Services Joint Stock Corporation (PET).
On November 21, PVT's shares closed at VND18,400 (US$0.86) each in the HCM City stock exchange. — VNS