PetroVietnam approves PVX's capital increase

VNStockNews.com - PetroVietnam Construction Joint Stock Corp (HNX listed PVX) reported obtaining the parent company PetroVietnam's approval on its capital increase plan from 1.5 trillion dong to 2.5 trillion dong.

Accordingly, the firm will issue 100 million shares worth one trillion dong in this quarter to carry out the plan. 92.5 million shares will be sold to the existing shareholders at 1:0, 61666 and another 7.5 million shares will be offered to its employees at 10,000 dong/share.

Currently, PetroVietnam keeps total 95,051,850 PVX coded shares.
However, PetroVietnam is carrying out the sales of 10 million PVX shares to Real Estate Investment and Development Co Ltd, three million shares to PetroVienam Investment and Finance JSC-Hanoi Branch, and three million shares to Ocean Commercial Joint Stock Bank. All transactions are expected to finish on January 14, 2010.

By the end of December 2009, PVX announced finishing the full year's plan with the production value of 4.098 trillion dong, revenue of 3.627 trillion dong and after-tax profit of 193.22 billion dong.