Vietnamese billion dollar oil refinery exits UPCoM to Join HoSE
BSR started trading on UPCoM on March 1, 2018, with a charter capital of VNĐ31 trillion (US$1.2 billion), of which the parent company, Việt Nam Oil and Gas Group, holds 92.13 per cent of the shares.
HÀ NỘI — Bình Sơn Refining and Petrochemical Company (BSR) has announced its delisting from the UPCoM exchange on January 7, 2025, as it has been accepted for listing on the Hồ Chí Minh City Stock Exchange (HoSE).
Consequently, over 244 million BSR shares will have their final trading session on UPCoM on January 6, 2025.
With over 3.1 billion BSR shares, including nearly 2.9 billion held by PetroVietnam, set to be listed on HoSE from January 17, 2025, the reference price for the initial trading day will be determined based on the average closing price of the last 30 consecutive trading sessions on UPCoM.
BSR started trading on UPCoM on March 1, 2018, with a charter capital of VNĐ31 trillion (US$1.2 billion), of which the parent company, Việt Nam Oil and Gas Group, holds 92.13 per cent of the shares.
Since the beginning of 2024, BSR's stock has surged by 23 per cent on the stock exchange, with a market capitalisation of approximately VNĐ69 trillion.
BSR manages and operates the Dung Quất Refinery, Việt Nam's first refinery. The project, inaugurated in 2005 with a total investment of VNĐ3 billion, commenced operations in 2009.
The Dung Quất Refinery has an annual capacity of 6.5 million tonnes of crude oil with low sulfur content.
In recent developments, BSR has approved its interim production and business plan for 2025.
The company aims to achieve a production volume of 6.7 million tonnes, including 2.5 million tonnes of diesel, 2.2 million tons of RON 95 gasoline, 0.6 million tonnes of RON 91/92 gasoline, 0.6 million tonnes of Jet A1 fuel, with an estimated consumption volume of 6.6 million tonnes.
The business plan targets a total revenue of more than VNĐ114.6 trillion, profit after tax of VNĐ752 billion, state budget contributions of VNĐ13 trillion and an average salary of approximately VNĐ29.5 million per employee per month.
BSR plans to allocate VNĐ500 billion for dividends, including VNĐ461 billion for the parent company.
In 2024, BSR aimed for revenues slightly above VNĐ95 trillion and profit after tax of VNĐ1.1 trillion.
For the first nine months of the year, the company's consolidated gross revenue reached nearly VNĐ87.1 trillion, equivalent to 91 per cent of the annual plan, with profit after tax amounting to VNĐ674 billion.
On the stock market, BRS shares closed Wednesday at VNĐ22,400 per share, up 0.9 per cent. — VNS
