The Hanoi Stock Exchange (HNX) recently announced that the Hoan Kiem District Civil Execution Unit in Hanoi has completed the sale of the entire 1 million PTT shares, equivalent to 5.88% of the charter capital of Petrovietnam Transportation Corporation (PVT). The transaction was executed on January 12, 2024. As a result, the Hoan Kiem District Civil Execution Unit will no longer be a major shareholder of Petrovietnam Transportation Corporation.
There is currently no information available regarding why the Hoan Kiem District Civil Execution Unit owned the shares in the first place.
In recent times, Petrovietnam Transportation Corporation has experienced several changes in its shareholder structure. On the same day, GPBank also completed the sale of 1 million PTT shares, reducing its ownership from 10% to 0%.
On the other hand, another major shareholder of the company, Asia Pacific Maritime Transport Company Limited, purchased over 1 million PTT shares, increasing its ownership to over 20% of the capital on January 12. Therefore, it is likely that Asia Pacific Maritime Transport Company Limited acquired these shares from GPBank.
Earlier this year, Petrovietnam Transportation Corporation underwent a capital increase, resulting in significant changes to its shareholder structure. Specifically, the company successfully issued nearly 6.5 million shares to the public at a price of VND 10,000 per share, raising approximately VND 165 billion in capital. This amount fell short of the initial plan to issue 7 million shares. As a result, the company’s charter capital increased to VND 165 billion.
The major shareholder structure of the company remained unchanged after the capital increase. PV Trans, a subsidiary of Petrovietnam Transportation Corporation, still holds 54.08% of the capital.
According to research, Petrovietnam Transportation Corporation was established with the approval of Vietnam Oil and Gas Group (PVN) on June 15, 2007. On April 29, 2010, the company began trading its shares on the UPCOM stock market. Its business activities include wholesale of industrial chemicals such as PP and PE resin particles, as well as trading of chemical fertilizers and microbial fertilizers.
In terms of business performance, the company generates hundreds of billions of Vietnamese dong in revenue and several billion dong in profit each year. Specifically, in 2023, the company recorded VND 259.2 billion in revenue and VND 10.7 billion in after-tax profit, representing an 8% increase and a 127% increase, respectively, compared to the same period last year. Although the revenue in 2023 did not reach the peak level, the profit level reached a new record.
