Petrolimex enjoys huge benefits through treasury stock sale
The Vietnam National Petroleum Group (Petrolimex) has announced that it sold all 20 million registered treasury shares at transaction value five times higher than par value.
Hanoi (VNA) – The Vietnam National Petroleum Group (Petrolimex) has announcedthat it sold all 20 million registered treasury shares at transaction value fivetimes higher than par value.
Accordingto the group, the shares were purchased at an average price of 50,553 VND (2.22USD) each from May 4-23 through transactions at the Ho Chi Minh Stock Exchange(HoSE)
Currently,Petrolimex owns more than 135 million treasury stocks.
Thestate-owned group has charter capital of approximately 13 trillion VND (571million USD).
Itsmarket value is estimated at 73.3 trillion VND (3.2 billion USD), ranking fifthamong the biggest enterprises on the Vietnamese stock market.
Petrolimexaims for year-on-year profit growth of 10 percent this year.
Lastyear, the group generated approximately 123.2 trillion VND (5.4 trillion USD)in revenue and 5.2 trillion VND (229 million USD) in after-tax profit, up 50percent from 2015. -VNA
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Illustrative image (Source: baotainguyenmoitruong.vn) 
