Petrosetco
The Ho Chi Minh City Stock Exchange (HOSE) has announced detailed information regarding PVN’s auction plan for Petrosetco shares.
Specifically, PVN will offer a total of over 24.9 million PET shares. The starting price is set at 36,500 VND per share. If the entire lot is successfully auctioned, PVN is expected to raise a minimum of 909 billion VND. The auction is scheduled for 9:00 AM on December 11, 2025.
This starting price is 21.2% higher than the closing price of PET shares on November 7, which was 30,100 VND per share.
However, the price of 36,500 VND per share is still lower than the peak of 41,300 VND per share recorded on August 19. This was the highest price for PET shares in over three years.
PVN’s divestment comes at a time when Petrosetco has reported positive business results for the first nine months of 2025, surpassing its annual profit target.
Petrosetco’s Quarterly Revenue (Billion VND)
Petrosetco’s Quarterly After-Tax Profit (Billion VND)
By the end of Q3 2025, Petrosetco recorded net revenue of 5,484 billion VND, a slight 3% decrease compared to the same period last year. However, after-tax profit surged by 95%, reaching 145 billion VND, the highest quarterly profit since 2022.
The primary driver of profit growth was financial activities. Financial revenue in Q3 reached 152.7 billion VND, 2.5 times higher than the same period last year, mainly from interest income, loans, and securities investments. The financial report noted a profit of 112 billion VND from trading securities, compared to less than 500 million VND in the same period last year.
For the first nine months of 2025, Petrosetco achieved 14,216 billion VND in net revenue and 247.5 billion VND in after-tax profit, a 56% increase year-over-year. With these results, Petrosetco has completed 70% of its revenue plan and exceeded its full-year profit target.
In terms of asset structure, as of September 30, 2025, Petrosetco’s total assets reached 11,734 billion VND. Cash and cash equivalents decreased by 46% compared to the beginning of the year, to 955 billion VND. Conversely, short-term financial investments increased by 42% to 4,061 billion VND, primarily consisting of bank deposits (3,787 billion VND) and trading securities (274 billion VND).
PVN’s divestment from Petrosetco is part of the comprehensive plan for restructuring, equitization, and divestment of state-owned enterprises for the 2022-2025 period, as outlined in Decision 1479/QĐ-TTg by the Prime Minister.
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