Petrolimex holds a meeting with investors before listing its shares on the Ho Chi Minh Stock Exchange. (Source: VNA)Hanoi(VNA) – The Vietnam National Petroleum Group (Petrolimex) will list its sharescoded PLX on the Ho Chi Minh Stock Exchange (HOSE) some time between April 18and 21.
The informationwas released at an event held on March 29 by Petrolimex and Saigon SecuritiesInc. (SSI).
According to BuiNgoc Bao, Chairman of Petrolimex Board of Directors, the price of listed PLX shareswill not be lower than the price sold to strategic shareholders, which ranges from47,000 to 50,000 VND (2.06 USD to 2.19 USD) per share to ensure the liquidityof shares and shareholders’ interests.
The group alsopledged a dividend rate of at least 12 percent in the next three years.
2016 was a successfulyear of Petrolimex with combined profit of 6 trillion VND (nearly 264 millionUSD) and a planned dividend rate of 16 percent.
In 2017,Petrolimex aims for 163 trillion VND (7.16 billion USD) in revenue and pretaxprofit of 4 trillion VND (176 million USD).
In upcomingtime, Petrolimex would focus on its core business of petrol and oil trading,thus maintaining its leading position in retail and distribution. It will also promoteresearch and investment in clean energy.
The company aimsfor a place in the top five companies in Vietnam in terms of scale andefficiency.
According toPetrolimex’s Business Report, the corporation has a chartered capital reachesnearly 13 trillion VND (571 million USD) and market capitalization of 52trillion VND (2.28 billion USD), one of the 20 companies with the largestmarket capitalisation on the market.-VNA
