The oil and gas industry has virtually completed its entire equitisation process under a plan to form the Viet Nam Oil and Gas Group (PetroVietnam).
To date, 11 subsidiaries of PetroVietnam have been equitised with more than 289.5 million shares sold, or 94.2 percent of the total offered, close to 2,895 billion VND at face value. It raked in 14,960 billion VND.
The group also restructured the proportion of capital held by the State at its 11 equitised enterprises. As a result the State now holds 61.2 percent, or 4,611 billion VND, of their registered capital with the remaining shares being sold to staff and shareholders to bring in 16,345 billion VND for further business development.
Source: VNA
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