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PLX enjoys huge benefits through treasury stock sale
The Viet Nam National Petroleum Group (Petrolimex) has announced it sold all 20 million registered treasury shares at transaction value five times higher than par value.
According to the group, the shares were purchased at an average price of VND50,553 (US$2.22) each from May 4 to 23 through transactions at the HCM Stock Exchange.
Currently, Petrolimex owns more than 135 million treasury stocks.
The state-owned group has charter capital of some VND13 trillion ($571 million).
Its market value is estimated at VND73.3 trillion ($3.2 billion), ranking fifth among the largest enterprises on the Vietnamese stock market.
Petrolimex aims for year-on-year profit growth of 10 per cent this year.
Last year, the group generated some VND123.2 trillion ($5.4 trillion) in revenue and VND5.2 trillion ($229 million) in after-tax profit, up 50 per cent from 2015.
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