Vietnam: PVOIL IPO First Steps Successfully Taken

Vietnam: PVOIL  IPO First Steps Successfully Taken

At the Vietnam Stock Exchange, the first successful IPO took place of PVOIL, the only member of the Vietnam Oil and Gas Group to take part in the development of the downstream sector of the oil and gas industry in the fields of import and export, crude trading and processing, storage and distribution.

The starting price was 13,400 dong / share, with the offering volume of nearly 207 million shares, accounting for 20% of charter capital of the company,total offering value of PVOIL reached over 2.770 billion. Investors domestic and foreign registered to buy out with registered volume of more than 483 million shares, 2.33 times the volume offered, once again proving the attraction of PVOIL's oil and gas companies in particular.

PVOIL will continue to implement the steps in the equitization plan approved by the Prime Minister, immediately after the results of the first IPO, including the completion of The procedure for conducting the first General Meeting of Shareholders. The move to operate in the form of a shareholding company and registering trading shares on the UPCOM within 3 months from the date of the IPO, and other formalities like complete the sale of 44.72% charter capital for strategic investors will follow.

As a major shareholder of PVOIL, Petrovietnam, is committed to working with PVOIL's shareholders to develop the Company in accordance with the Equitisation Plan and the Information Disclosure Form Approved. PWKD29012018

Last modified onSunday, 28 January 2018 09:18
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