-
09-08-2010, 12:59 PM #1Silver member
- Ngày tham gia
- Feb 2020
- Bài viết
- 6
PetroVietnam Gas Corporation, one of the three leading affiliates of State-owned oil giant PetroVietnam, will make its initial public offering on the HCM City Stock Exchange next month, the company has announced.
PetroVietnam Gas (PV Gas) plans to sell shares in the IPO representing 10 per cent of its equity of over VND18.9 trillion (US$1 billion).
Shares representing another 15-per-cent interest will be offered directly to strategic investors. PetroVietnam is investigating potential strategic investors and will submit them to the Government for approval.
As the leader in the gas industry, PV Gas has played an important role in ensuring national energy security and promised strong growing potential, said Huynh Richard Le Minh, Deputy Director of Viet Capital Securities Company, the firm consulting on the IPO.
PV Gas supplies fuel to produce 40 per cent of the nation's electrical output and 30 per cent of its fertiliser, and meets over 70 per cent of liquefied petroleum gas (LPG) demand nationwide.
PV Gas has targeted an annual revenue growth of 18-20 per cent for the period of 2011-15. By 2015, the company was expected to reach VND68.6 trillion ($3.6 billion) in earnings and nearly VND5.3 trillion ($279 million) in net profit, said PV Gas Deputy Director Bui Minh Tien.
PV Gas would invest VND72.6 trillion ($3.8 billion) in developing infrastructure and expanding its gas distribution market during the period, he added, noting that the the company had business ties with prestigious foreign partners including BP, the US's ConocoPhillips and Chevron, Japan's Mitsui and Thailand's Pttep.
PV Gas reported earnings of VND30 trillion ($1.6 billion) last year and posted a net profit of VND3 trillion ($158 million). It has estimated revenues of VND40 trillion ($2.1 billion) this year and a profit of VND4 trillion ($210.5 million).
The date and reference price for the IPO have not yet been set, PV Gas said.
If the price is set at VND30,000 ($1.58) per share – equivalent to its subsidiary's share price on the Ha Noi bourse – and all shares are sold, the IPO will absord investment of around VND5.7 trillion ($300 million).
There are 20 shares under the auspices of PetroVietnam currently listed on the nation's two stock exchanges, three of which are subsidiaries of PV Gas, including PetroVietnam Low Pressure Gas Distribution (PV Gas D), PetroVietnam Southern Gas (PV Gas South) and PetroVietnam Northern Gas (PV Gas North).
Last year, nine PetroVietnam subsidiaries raised VND5.8 trillion ($305.3 million) on the Ha Noi bourse. Shares in the PetroVietnam group are usually favoured by investors due to their positive corporate earnings, their important roles in the national economy and long-term development prospects.View more random threads:
- VIC: Vingroup raises capital of Thoi Dai Company
- Stocks continue to flounder
- Hoa Sen sells shares to strategic partners
- Masan to buy back up to 10 per cent of common stock
- HCMC bourse introduces top 30 index
- Eximbank lists 876.2 million shares on HoSE
- HPG: Business result in 11 months of 2009
- Local markets rally on global rate cuts
- S&P launches index to cover Vietnam’s 10 top firms
- Stock market: Foreigners in the dark
Các Chủ đề tương tự
-
Hoa Phat Group pays $100 million for dividends in September
Bởi imported_thieuk55 trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 28-07-2016, 05:09 AM -
VNS: Business result September - 2010
Bởi imported_trungvn2092 trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 20-10-2010, 05:44 AM -
Vietnam adds 17 foreign institutional investors in September
Bởi imported_tbao232678 trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 05-10-2010, 09:47 AM -
PetroVietnam Finance plans Q3 S’pore listing
Bởi honganh trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 30-01-2010, 09:59 AM -
PPC: Business result in September 2009
Bởi trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 19-10-2009, 11:55 AM
Thông qua phân tách dữ liệu Google từ 86 nhà nước, mới đây, một công ty tại Anh đã ban bố bảng xếp hạng kích tấc "cậu nhỏ" của các nước trên thế giới. Kết quả, hầu hết các nước xếp ở nhóm đầu của...
"Chim" của bạn trai Việt thuộc...