Illustrative image (Source: VNA) Hanoi (VNA) – The PetroVietnam Oil Corporation(PVOil) is completing preparations for its initial public offering (IPO)scheduled for January 25, 2018 in Ho Chi Minh Stock Exchange (HOSE).
To join the IPO, investors are required to pay deposit from8am on December 22, 2017 to 4pm on January 17, 2018 in agents listed in IPOregulations issued by the HOSE.
PVOil will hold a roadshow in Ho Chi Minh City on January11, 2018 and in Hanoi on January 12, 2018 to provide information about itsequitisation and answer questions about development potential and businessopportunities.
The corporation has a total chartered capital of 10.3trillion VND (459.6 million USD), 35.1 percent of which is sourced from theVietnam National Oil and Gas Group (PetroVietnam).
Up to 1,864,300 shares, or 0.18 percent of the charteredcapital, will be sold to workers while 206,845,900 shares or 20 percent will beup for IPO and 462,504,745 others or 44.72 percent will be for strategicinvestors.
Foreign investors are able to own 49 percent stake in thecompany at the starting price of 13,400 VND per share.
Following the IPO, PVOil will sell shares to strategicinvestors at negotiated or competitive asked prices.
As a subsidiary of PetroVietnam, PVOil majors in crude oilimport-export, international crude oil trading, petroleum manufacturing andprocessing, bio-fuel processing and distribution.
PVOil now has 28 subsidiaries, 11 affiliated companies and ninebranches, and a distribution network in 63 cities and provinces nationwide with540 petrol stations and more than 3,000 petrol agents. It has also opened branches in Laos andSingapore.-VNA
To join the IPO, investors are required to pay deposit from8am on December 22, 2017 to 4pm on January 17, 2018 in agents listed in IPOregulations issued by the HOSE.
PVOil will hold a roadshow in Ho Chi Minh City on January11, 2018 and in Hanoi on January 12, 2018 to provide information about itsequitisation and answer questions about development potential and businessopportunities.
The corporation has a total chartered capital of 10.3trillion VND (459.6 million USD), 35.1 percent of which is sourced from theVietnam National Oil and Gas Group (PetroVietnam).
Up to 1,864,300 shares, or 0.18 percent of the charteredcapital, will be sold to workers while 206,845,900 shares or 20 percent will beup for IPO and 462,504,745 others or 44.72 percent will be for strategicinvestors.
Foreign investors are able to own 49 percent stake in thecompany at the starting price of 13,400 VND per share.
Following the IPO, PVOil will sell shares to strategicinvestors at negotiated or competitive asked prices.
As a subsidiary of PetroVietnam, PVOil majors in crude oilimport-export, international crude oil trading, petroleum manufacturing andprocessing, bio-fuel processing and distribution.
PVOil now has 28 subsidiaries, 11 affiliated companies and ninebranches, and a distribution network in 63 cities and provinces nationwide with540 petrol stations and more than 3,000 petrol agents. It has also opened branches in Laos andSingapore.-VNA
VNA
