PetroVietnam to sells 25 mln subsidiary’s shares to Hanshin

PetroVietnam will sell 25 million shares of its subsidiary, northern bourse-listed PetroVietnam Construction Joint Stock Corporation (HNX: PVX), to the South Korea-based Hanshin Group at the price of VND25,000 per share.


The price is twice as much as the market price of VND12,800 per share in Monday’s (June 20) trading session.
At present, PetroVietnam has kept over 103 million shares or 41.21 percent of total stake in PVX.
The construction firm added that the other two Korean groups, Huyndai and Kumho, were discussing about purchasing 30 percent of the total stake in PVX in its upcoming share issuing to raise chartered capital from VND2.5 trillion to VND3 trillion.
Korean Shinhan Financial Group has also agreed to buy up tp 15 percent of PetroVietnam’s shares in its securities arm Petrovietnam Securities Joint Stock Company (HNX: PSI).

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