Binh Son Refinery to list shares on main exchange

The operator of Dung Quat Refinery listed share on the unlisted market from early March 2018, with reference price at VND22,400 ($0.98) apiece. All of shares will be moved to Ho Chi Minh Stock Exchange or Hanoi Stock Exchange after getting approval from shareholders at April 24 meeting.  

With the current market share price at around VND7,000 ($0.31) each, Binh Son Refinery’s market capitalization is at about VND21,700 billion ($949 million) due to the slow progress of divestment process in enterprises.

The refinery produced 1.1 million tons of products in the first two months of 2020 and reported a revenue of VND12,058 billion ($527.4 million).

In 2019, BSR produced 6.94 million tons with a total revenue of more than VND102,823 billion. After-tax profit was reported at VND2,756 billion ($120 million).

Dung Quat Refinery has loading capacity of 6.5 million tons of crude oil per year, providing 30% of the country's gasoline demand. The plant also plans to upgrade and expand in 2021 to increase processing capacity to 8.5 million tons of crude oil each year.