The Vietnam National Petroleum Group (Petrolimex) will publicly auction its shares in the Petrolimex Laos Company, valued at $1.89 million (over 48 billion VND). The starting price is nearly 68.2 billion VND per lot. Investors must pay a deposit of 6.8 billion VND and submit bids from 8:00 AM on March 8, 2025, to 5:00 PM on April 3, 2025. The auction will be conducted online on April 8, 2025. Petrolimex is divesting its entire stake per directives from the State management authorities, aiming to implement its reorganization scheme for 2021-2025. The Board of Directors has also agreed on a restructuring plan for the Petrolimex Services Corporation under a “Merger” approach.
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