Business

PV Oil to offer 20 pct stake in coming IPO: HSC

PetroVietnam Oil Corporation (PV Oil) may double the amount of shares offered as part of its initial public offering (IPO), which is scheduled in the fourth quarter of this year.
PV Oil to offer 20 pct stake in coming IPO: HSC ảnh 1PetroVietnam Oil Corporation (PV Oil) may double the amount of shares offered as part of its initial public offering (Photo: VNA)

Hanoi (VNA) - PetroVietnam OilCorporation (PV Oil) may double the amount of shares offered as part of itsinitial public offering (IPO), which is scheduled in the fourth quarter of thisyear.

APV Oil representative told the HCM City Securities Corporation (HSC) at a recentmeeting that the company will offer 20 percent of its total shares for sale atthe IPO, or 210 million shares.

That number is twice the initial planned rate of 10 percent, or 105 millionshares. The company also plans to sell 44.7 percent of its stake to severalstrategic investors.

The IPO and strategic stake sale will reduce the Government’s ownership in PVOil to 35.1 percent. The company is in talks with potential partners and thelist of strategic shareholders is expected to be completed by November.

PV Oil is a member of the Vietnam Oil and Gas Group (PetroVietnam or PVN),which is an entirely State-owned enterprise. The company has a monopoly ofcrude exports and is the second largest petroleum dealer after Petrolimex inVietnam.

According to HSC, PV Oil is seeking to raise its market share in the localmarket to 30-35 percent in the next three to five years from the current 22percent by increasing the number of gas stations.

The company expects its combined profit margin will rise to 6-6.5 percent inthe targeted period by increasing its productivity and having advantages overcompetitors due to its large-scale business.

PV Oil has more room to grow thanks to the fast-increasing number of cars andother vehicles, leading to high demand for gas and oil products, HSC said,adding that market demand growth could reach 3.5-4 percent per year.

HSC estimated PV Oil’s revenue in the first six months was 28.3 trillion VND (1.25billion USD), a yearly increase of 74 percent, or equal to 82 percent of theyearly plan, while pre-tax profit rose eight percent year-on-year to 231billion VND, or 71 percent of the yearly plan.

For 2017, HSC forecast PV Oil could earn 48 trillion VND in revenue, an annualincrease of 22 percent, and 650 billion VND in pre-tax profit, a yearlyincrease of 3.6 percent.

Shares of PV Oil could be listed in the first quarter of 2018 at the marketcapitalisation of 12 trillion VND, or 520 million USD, HSC forecast. - VNA
VNA
#PetroVietnam Oil Corporation #PV Oil #initial public offering #IPO #PV Oil's IPO #HCM City Securities Corporation #Vietnam Oil and Gas Group #PetroVietnam #updated Vietnam news #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Capital contracts signed for southern petrochemical complex

Capital contracts signed for southern petrochemical complex

PetroVietnam and the Long Son Petrochemical Complex (LSP) signed a joint venture contract and a capital transfer contract between LSP’s foreign partners – Qatar’s Petroleum International Vietnam and Siam Cement Group of Thailand.
PV Oil to expand share in domestic market

PV Oil to expand share in domestic market

Petrovietnam Oil (PV Oil) Corp. aims to expand its share of the domestic oil and petrol retail market from 22 percent to at least 35 percent by 2020 through mergers and acquisitions transactions.
PetroVietnam to complete divestment by 2020

PetroVietnam to complete divestment by 2020

Deputy Prime Minister Vuong Dinh Hue has released a list of State-owned enterprises from which the Vietnam Oil and Gas Group (PetroVietnam) must reduce its ownership between 2017 and 2020.

See more

Deputy Secretary of the An Giang provincial Party Committee and Secretary of the Party Committee of the Phu Quoc special zone Dinh Van Noi speaks at the dialogue (Photo: baoangiang.com)

Phu Quoc moves to resolve infrastructure bottlenecks ahead of APEC 2027

Deputy Secretary of the An Giang provincial Party Committee and Secretary of the Party Committee of the Phu Quoc special zone Dinh Van Noi said an official information portal will be launched to receive public feedback, while hotlines for local leaders will allow businesses and residents to raise concerns directly.

Deputy Minister of Industry and Trade Phan Thi Thang at the forum. (Photo: VNA)

Vietnamese firms explore investment opportunities in Georgia

Priority areas with great cooperation potential include manufacturing, logistics infrastructure, renewable energy, tourism, hospitality, information and communications technology (ICT), and business process outsourcing (BPO), said a Georgian official.

Prime Minister Le Minh Hung and delegates launch the digital platform of the Vietnam Association of Small and Medium Enterprises (August 2026). Photo: VNA

Vietnamese businesses, entrepreneurs make growing contributions to national development

Vietnam Entrepreneurs’ Day is an opportunity to recognise businesses’ contributions and reinforce the entrepreneurial spirit, the pursuit of legitimate prosperity and national responsibility. With stronger policies and greater innovation, Vietnamese enterprises are expected to play an increasingly important role in economic growth and the country’s ambition to become a strong, prosperous nation.

A view at a CO.OPMART supermarket in Bac Ninh city (Photo: bacninh.gov.vn)

Bac Ninh’s CPI up 4.07% in nine months

The consumer price index (CPI) in Bac Ninh city rose 4.07% year-on-year in the first nine months of 2026, with housing and construction materials, education and transport recording the sharpest increases, according to the municipal Statistics Office.

Vietnam's textile - garment and footwear industries are aiming to shift from processing and assembly to stages with higher added value, increasing technology content and competitiveness. (Photo: VNA)

Vietnam’s supporting industries seek stronger domestic links

As global supply chains undergo major changes and environmental standards and digital technology requirements become more demanding, developing supporting industries has become essential to improving the competitiveness of the economy. This requires coordinated efforts by the Government, multinational corporations and domestic businesses.

Prime Minister Le Minh Hung speaks at the meeting (Photo: VNA)

PM orders power plan overhaul to meet double-digit growth

Securing adequate power supply is an urgent priority and a prerequisite to successfully achieve socio-economic development goals 2026, a foundational year for accelerating progress, with breakthroughs to follow in 2027 and the goals for the full term to be delivered, said Prime Minister Le Minh Hung.

General Secretary of the Communist Party of Vietnam Central Committee and President To Lam speaks at the meeting (Photo: VNA)

Top leader pledges support for firms, presses tech self-reliance

The country needs more firms that master technologies, build trusted brands and run production networks able to compete globally. Progress over the next five to 10 years must show up in productivity, job quality and market position, said top leader To Lam.