Petrolimex (PLX) sells 15 million treasury shares, earning $29 million

The Viet Nam National Petroleum Group (Petrolimex or PLX) has completed the sale of 15 million treasury shares, the group announced on Wednesday.

After the sale which was carried out from June 16 to July 2, Petrolimex has reduced the number of treasury shares from more than 103 million to some 88 million shares.

The average selling price was VND45,318 per share. The group collected nearly VND680 billion (US$29.3 million) from the sale.

Petrolimex (PLX) closed Wednesday at VND46,300 per share.

The group is aiming for consolidated revenue of VND122 trillion this year, down 35 per cent compared to 2019. Pre-tax profit is estimated at VND1.57 trillion, equal to 28 per cent of profit achieved in 2019.

In the first quarter of 2020, the group earned VND38.5 trillion of revenue and recorded a loss of VND1.8 billion. 

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