PetroVietnam financial arm to list shares on HOSE

The PetroVietnam Joint Stock Finance Corporation (PVFC) is planning to list shares on the Ho Chi Minh Stock Exchange (HOSE) later this month or early October.

PVFC, a financial arm of the Vietnam National Oil and Gas Group (PetroVietnam), is also working with US-based Morgan Stanley on a plan to join the Singapore Stock Exchange and open its representative office in the country.

The corp., which made initial public offerings (IPO) a year ago, said the move aims to tap one of the largest capital markets in Asia. It will issue 1.6 trillion VND (100 million USD) worth of bonds later this year.

By the end of August, PVFC had posted total revenue of 2.45 trillion VND (148.6 million USD), earning a pre-tax profit of 352 billion VND (21.3 million USD).

VNA

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