Vietnam: Petrolimex to list on HCM City stock exchange

Vietnam: Petrolimex to list on HCM City stock exchange

The Vietnam National Petroleum Group (Petrolimex) will list its shares coded
PLX on the Ho Chi Minh Stock Exchange (HOSE) some time between April 18 and
21.

The information was released at an event held on March 29 by Petrolimex and
Saigon Securities Inc. (SSI).

According to Bui Ngoc Bao, Chairman of Petrolimex Board of Directors, the
price of listed PLX shares will not be lower than the price sold to
strategic shareholders, which ranges from 47,000 to 50,000 VND (2.06 USD to
2.19 USD) per share to ensure the liquidity of shares and shareholders'
interests.

The group also pledged a dividend rate of at least 12 percent in the next
three years.

2016 was a successful year of Petrolimex with combined profit of 6 trillion
VND (nearly 264 million USD) and a planned dividend rate of 16 percent.

In 2017, Petrolimex aims for 163 trillion VND (7.16 billion USD) in revenue
and pretax profit of 4 trillion VND (176 million USD).

In upcoming time, Petrolimex would focus on its core business of petrol and
oil trading, thus maintaining its leading position in retail and
distribution. It will also promote research and investment in clean energy.

The company aims for a place in the top five companies in Vietnam in terms
of scale and efficiency.

According to Petrolimex's Business Report, the corporation has a chartered
capital reaches nearly 13 trillion VND (571 million USD) and market
capitalization of 52 trillion VND (2.28 billion USD), one of the 20
companies with the largest market capitalisation on the market.

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

Link to Original Article:
http://english.vietnamnet.vn/fms/business/175530/petrolimex-to-list-on-hcm-c
ity-stock-exchange.html

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com