Petrosetco (PET) is set to be fully sold by PVN with more than 24.9 million shares offered at a starting price of 36,500 VND per share, which is 21.2% higher than the current market price (30,100 VND). If the auction is successful, PVN expects to collect at least 909 billion VND. The auction is scheduled for 9 AM on December 11, 2025. The starting price, while higher than the current price, is still lower than the peak of 41,300 VND recorded in August 2025. In the first nine months of 2025, PET recorded a revenue of 14,216 billion VND (up 56%) and a net profit of 247.5 billion VND (up 95%), primarily driven by financial activities. As of September 30, 2025, total assets reached 11,734 billion VND, with a significant increase in short-term financial investments. This divestment is part of the plan to reorganize and privatize state-owned enterprises from 2022 to 2025 under Decision 1479/QD-TTg.
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