A Petrolimex gas station. (Photo: petrolimex.com.vn)
Hanoi (VNS/VNA) - The Vietnam National Petroleum Group (Petrolimex) plansto sell 13 million treasury shares, the company said on August 12.
If successful, the total number of treasury shares will fall to more than 75million.
The decision was made on August 11, but there is no schedule for the share saleyet.
Petrolimex shares, listed on the Ho Chi Minh Stock Exchange with code PLX,inched up 0.2 percent to trade at 46,600 VND (2.02 USD) apiece on August 13.
The petrol and fuel seller between June 16 and July 2 sold 15 million treasuryshares for average 45,318 VND apiece to receive nearly 680 billion VND.
Due to the COVID-19 pandemic, Petrolimex forecast total revenue in 2020 willfall 35 percent on-year to 122 trillion VND (5.28 billion USD) and pre-taxprofit will drop 72 percent on-year to 1.57 trillion VND.
In the first six months of the year, the company earned 65 trillion VND worthof total revenue but suffered a net loss of 1.2 trillion VND./.
The Vietnam National Petroleum Group (Petrolimex or PLX) forecast a drop in both revenue and profit this year due to the decline in demand amid the COVID-19 pandemic.
The Vietnam National Petroleum Group (Petrolimex) plans to sell 15 million treasury stocks in transactions held between June 16 and July 15 to mobilise capital for investment in 2020, announced chairman Pham Van Thanh at Petrolimex’s recent annual general meeting of shareholders.
The Vietnam National Petroleum Group (Petrolimex) has met the majority of the goals set for the 2015-2020 period, paying nearly 188 trillion VND (about 8.036 billion USD) to the State budget while exhibiting strong performance in ensuring energy security, meeting demand for petroleum, and contributing to social welfare activities.
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A Petrolimex gas station. (Photo: petrolimex.com.vn) 
