Hanoi (VNS/VNA) – The Binh Son Refining and Petrochemical Company (BSR) has announced its delisting from the UPCoM exchange on January 7, 2025, as it has been accepted for listing on the Ho Chi Minh City Stock Exchange (HoSE).
Consequently, over 244 million BSR shares will have their final trading session on UPCoM on January 6, 2025.
With over 3.1 billion BSR shares, including nearly 2.9 billion held by PetroVietnam, set to be listed on HoSE from January 17, 2025, the reference price for the initial trading day will be determined based on the average closing price of the last 30 consecutive trading sessions on UPCoM.
BSR started trading on UPCoM on March 1, 2018, with a charter capital of 31 trillion VND (1.2 billion USD), of which the parent company, Vietnam Oil and Gas Group, holds 92.13% of the shares.
Since the beginning of 2024, BSR's stock has surged by 23% on the stock exchange, with a market capitalisation of approximately 69 trillion VND.
BSR manages and operates the Dung Quat Refinery, Vietnam's first refinery. The project, inaugurated in 2005 with a total investment of 3 billion VND, commenced operations in 2009.
The Dung Quat Refinery has an annual capacity of 6.5 million tonnes of crude oil with low sulfur content.
In recent developments, BSR has approved its interim production and business plan for 2025.
The company aims to achieve a production volume of 6.7 million tonnes, including 2.5 million tonnes of diesel, 2.2 million tons of RON 95 gasoline, 0.6 million tonnes of RON 91/92 gasoline, 0.6 million tonnes of Jet A1 fuel, with an estimated consumption volume of 6.6 million tonnes.
The business plan targets a total revenue of more than 114.6 trillion VND, profit after tax of 752 billion VND, state budget contributions of 13 trillion VND and an average salary of approximately 29.5 million VND per employee per month.
BSR plans to allocate 500 billion VND for dividends, including 461 billion VND for the parent company.
In 2024, BSR aimed for revenues slightly above 95 trillion VND and profit after tax of 1.1 trillion VND.
For the first nine months of the year, the company's consolidated gross revenue reached nearly 87.1 trillion VND, equivalent to 91% of the annual plan, with profit after tax amounting to 674 billion VND./.
