DPM: PVFCCo receives 2 million shares of UTXICO

On December 13, 2012, the Board of Directors of Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo) approved to invest in Ut Xi Aquatic Products Processing Joint Stock Company (UTXICO) by buying 2,000,000 UTXICO’s shares, or 6.78% of UTXICO, from Petrovietnam Trade Union Finance Investment Corporation (PVFI).

PVFCCo receives the share transfer from PVFI for the purpose of clearing debts of PVFI in PVFCCo. The Board of Directors also asked PVFCCo to make a plan to transfer these shares to another partner so that PVFCCo can recover capital as soon as possible.

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