Illustrative image (Source: petrolimex.com.vn) Statistics from the HoSE showed that foreign investors splashed out 178 billionVND (7.8 million USD) on purchasing nearly 2.94 million PLX shares during May22-26.
Petrolimex’s foreign ownership capped at 9.31 percent by May 28. Last year, theJapanese JX Nippon Oil &Energy (JXEV) bought 103.5 million stocks, or 8percent of the group’s shares, at 39,000 VND per share.
The group’s market capitalisation value tops 78.4 trillion VND (3.4 billion USD),helping the enterprises surpass Vietinbank, BIDV and ROS to enter the club of fivelargest companies on the HoSE with high capitalisation value.
Last week, Petrolimex announced that it had sold 20 million registered sharesat five times higher than the share’s par value. The move is an opportunity forthe company to step into VN30, top 30 largest firms in terms of capitalisationand equity.
With a large distribution system of 2,400 stores and franchised agentsaccounting for 50 percent of Vietnam’s petrol market share coupled with robustbusiness results in the first quarter of this year, PLX will continue to be anattractive code to foreign investors.
Equitised in 2011, Petrolimex has seen turnover growth in its business ofpetrol, transport, gas and oil. In 2016, the largest fuel importer anddistributor of Vietnam achieved a revenue of 123.1 trillion VND (5.42 billionUSD). Its post-tax profit in the year was 5.1 trillion VND (224.5 million USD),50 percent higher than 2015. Profit on each share reached 4,254 VND, just afterVinamilk and Sabeco.-VNA
VNA
