Equitization plan for PV Oil passed
VGP – Deputy PM Vuong Dinh Hue has recently inked Decision 1979/QD-TTg, dated December 8, 2017 to agree on the equitization plan of the Viet Nam Oil and Gas Corporation (PV Oil) of the Viet Nam Oil and Gas Group (PVN).
The PV Oil will sell a part of State capital to conduct the equitization process.
Under the decision, the PVOIL will have a charter capital of over VND 10,342 trillion of which PVN will hold VND 363,014,555 stocks, accounting for 35.1% of the charter capital. Preferential stocks will be given to workers with 1,864,300 stocks or 0.18% of the charter capital. The others of 206,845,900 stocks will be on sale, making up 20% of the charter capital. Strategic investors will hold 462,504,746 stocks or 44.72% of the charter capital. Every stock will value VND 10,000. Foreign investors are invited to purchase stocks at the PVOIL with a maximum ownership rate of 49% of the charter capital.
The stocks will be on sale in open bidding at the HCM Stock Exchange within one year from the IPO date, labor arrangement plan.
The Ministry of Industry and Trade was asked to keep a close watch on the equtization process and report to the PM for consideration./.
By Kim Anh
