PetroVietnam Finance to offer 59.6 million shares

PetroVietnam Finance Co. will make an initial public offering of 59.6 million shares next month, representing 11.9 percent of the company’s equity.

Shares will be offered at an initial price of 51,000 VND each. The deadline to register to bid on shares in the IPO is October 1.

PetroVietnam Finance has a charter capital of 3 trillion VND (187.5 million USD), and provides venture capital, lending, mortgaging and underwriting services. The company has plans to increase its charter capital to 5 trillion VND (312.5 million USD) following the IPO.

VNA

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