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PV Oil’s IPO to sell 206 million shares in Vietnam

PV Oil, a subsidiary of PetroVietnam and a local fuel distributor, is set to sell more than 206 million shares at its initial public offering at the Ho Chi Minh Stock Exchange on January 25, 2018.



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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

The 206 million shares account for 20 percent of PV Oil’s chartered capital. In addition, foreign investors may own 49 percent of the company at the starting price of 13,400 VND (US$0.59) per share, reports Vietnam News Agency.

PV Oil will hold a road show in Ho Chi Minh City and Hanoi on January 11 and January 12 respectively to provide information about the IPO and other possible business opportunities.

PV Oil, which has business in crude oil trading, petroleum manufacturing and processing, and bio-fuel processing and distribution, holds 25% of Vietnam’s fuel distribution market share. It also has stakes in 540 gas stations across the country.

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