A staff carries a fuel line at a Petrolimex fuel station in District 1, Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen.
Japanese energy company Eneos Corporation has registered to buy 13 million treasury shares, or a 1 percent stake, of fuel distributor Petrolimex.
The transaction will be carried out by order matching on the Ho Chi Minh City Stock Exchange between August 27 and September 25, according to a statement from Petrolimex.
The deal, if successful, will increase Eneos’s ownership of Petrolimex to 9 percent.
Petrolimex will have over 75 million treasury shares after the deal.
This is the second time this year that Petrolimex is selling treasury shares. In June it sold 15 million shares for VND680 billion ($29 million).
Last year it had sold 32 million shares for nearly VND2 trillion ($86 million).
Petrolimex reported a loss of VND1.08 trillion in the first half of this year as oil prices plummeted due to the coronavirus pandemic.