PV Oil begins trading shares on UPCoMTrading of shares of the PetroVietnam Oil Corporation (PV Oil), Vietnam's second largest petrol distributor, officially started on the Unlisted Public Company Market (UpCOM) on the morning of March 7, more than one month after its initial public offering (IPO). PV Oil's petrol warehouse in Ho Chi Minh City's Nha Be districtPV Oil floated 200.4 million shares on the UpCOM at an initial price of 20,200 VND (0.89 USD) a piece. The company will sell more than 462 million shares, or 44.72 percent of its charter capital, to strategic investors. In 2017, PV Oil reported a consolidated revenue of 56 trillion VND (2.46 billion USD) with a pre-tax profit of 405 billion VND (178.02 million USD). This year, the firm expects to earn 41 trillion VND (1.8 billion USD) in revenue and 340 billion VND (149.45 million USD) in pre-tax profit.

Source: VietNamNet News March 07, 2018 09:11 UTC