Petrovietnam plans to divest all 24.9 million shares of Petrosetco (PET), reducing ownership from 23.21% to 0% between November 11 and December 31, 2025. The transaction will be conducted via public auction on the Ho Chi Minh Stock Exchange, with a starting price of 36,500 VND per share, 14% higher than the current market price (31,900 VND). If successful, Petrovietnam expects to earn at least 909 billion VND from this sale. The divestment announcement comes as Petrosetco reports strong business results, with a Q3 2025 after-tax profit of 145 billion VND, up 95% year-on-year, and a cumulative revenue increase of 56% compared to the previous year. Recently, several major shareholders have sold their PET shares, reducing their holdings in the company.
Leave a Reply