Petrolimex (PLX) plans to sell 13 million treasury stocks
Petrolimex (PLX) plans to sell 13 million treasury stocks
Local oil and gas giant Petrolimex once again issued plans to sell millions of treasury stocks due to the impacts of the COVID-19 lockdown.
Petrolimex has sold millions of treasury stocks so far this year
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Vietnam National Petroleum Group (Petrolimex – HSX: PLX) has just declared putting 13 million treasury stocks on trade, which was approved by Resolution No.218/PLX-NQ-HDQTon August 11, 2020.
If the transaction takes place smoothly, the company will keep 75 million treasury stocks.
Previously on June 16, Petrolimex sold 15 million treasury stocks for VND45,318 ($1.97) each, getting nearly VND680 billion ($29.57 million).
At now, PLX stocks are at VND46,000 ($2). If the deal fetches this price, Petrolimex will collect nearly VND600 billion ($26.1 million).
The 2020 shareholders' meeting approved Petrolimex's business plan with VND122 trillion ($5.3 billion) in total revenue, down 35 per cent on-year. The estimated pre-tax profit in 2020 is VND1.57 trillion ($68.26 million), equaling 28 per cent of last year's profit.
Over the first six months of 2020, Petrolimex saw VND65 trillion ($2.83 billion) in integrated earnings but a negative profit of VND1.2 trillion ($52.17 million).
