Business

Petrolimex begins trading on HoSE

The Vietnam National Petroleum Group (Petrolimex) began trading on the Ho Chi Minh Stock Exchange (HoSE) on April 21 with shares, coded PLX, starting at 43,200 VND (1.9 USD).
Petrolimex begins trading on HoSE ảnh 1A gas station of Petrolimex. (Photo: petrolimex.com.vn)

HCM City(VNA) – The Vietnam National Petroleum Group (Petrolimex) began trading on theHo Chi Minh Stock Exchange (HoSE) on April 21 with shares, coded PLX, startingat 43,200 VND (1.9 USD).

The state-owned grouphas charter capital of approximately 13 trillion VND (571 million USD).

Its market value isestimated at nearly 56 trillion VND (2.5 billion USD), accounting for 3.3percent of total value traded in HoSE and making it in the top 10 shares interms of market value on its debut.

Petrolimex aims foryear-on-year profit growth of 10 percent this year, Chairman of PetrolimexBoard of Directors Bui Ngoc Bao said, adding that he is optimistic about thecorporation’s growth in the future as it is supported by JX Nippon Oil andEnergy, the largest oil company in Japan.

The company aims toremain the biggest petroleum retailer and distributor in Vietnam and to earnrevenue of more than 163.2 trillion VND (7.18 billion USD) in 2017 and 200trillion VND (8.8 trillion USD) in 2020. It also aims to pay an annual dividendof at least 12 percent in the next 3-5 years.

Last year,Petrolimex generated approximately 123.2 trillion VND (5.4 trillion USD) inrevenue and 5.2 trillion VND (229 million USD) in after-tax profit, up 50percent from 2015.-VNA
VNA
#Vietnam National Petroleum Group #Petrolimex #Ho Chi Minh Stock Exchange #HoSE #PLX
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