Japan’s ENEOS Corp. to raise stake in Petrolimex to 11 percent

Xuan Thinh Thursday | 02/25/2021 14:33

Photo: VNA

Japanese energy firm ENEOS Corporation has registered to buy 25 million treasury shares of the Vietnam National Petroleum Group (Petrolimex), according to exchange filing.

If the purchase which will be made in March 1-30 in the form of order matching on the stock market the holding stake of the Japanese firm in Petrolimex will be raised to 2.94 percent.

In previous transaction from August 27 to September 14, 2020, ENEOS purchased 13 million treasury shares of Petrolimex, equivalent to 1 percent stake.

JX Nippon Oil and Energy Vietnam Co. Ltd., an affiliate of the ENEOS Corporation, currently holds more than 103.5 million Petrolimex shares, equivalent to an 8 percent stake, Vietnam News Agency cited a representative of the company’s representative.

Petrolimex announced that it would divest the State holding to 51 percent during 2020 and 2021.

Petrolimex reported a consolidated revenue of VND123 trillion ($5.34 billion) in 2020, exceeding the whole-year goal by 1 percent. After-tax profit was reported at VND1.23 trillion, down 74 percent.