PVOil prepares for IPO next yearThe PetroVietnam Oil Corporation (PVOil) is completing preparations for its initial public offering (IPO) scheduled for January 25, 2018 in Ho Chi Minh Stock Exchange (HOSE). To join the IPO, investors are required to pay deposit from 8am on December 22, 2017 to 4pm on January 17, 2018 in agents listed in IPO regulations issued by the HOSE. Up to 1,864,300 shares, or 0.18 percent of the chartered capital, will be sold to workers while 206,845,900 shares or 20 percent will be up for IPO and 462,504,745 others or 44.72 percent will be for strategic investors. Following the IPO, PVOil will sell shares to strategic investors at negotiated or competitive asked prices. As a subsidiary of PetroVietnam, PVOil majors in crude oil import-export, international crude oil trading, petroleum manufacturing and processing, bio-fuel processing and distribution.

Source: VietNamNet News December 22, 2017 13:30 UTC