Petrosetco is an official distributor of leading technology brands such as Apple, Nokia, and Realme.
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Vietnam National Oil and Gas Group (Petrovietnam, PVN) has officially announced plans to auction off its entire stake of over 24.9 million shares in Petrosetco, equivalent to 23.21% of the company’s charter capital. The starting price is set at VND 36,500 per share, valuing the auction at VND 909.5 billion. The auction is scheduled for 9 a.m. on December 11th.
News of PVN’s complete divestment sent PET shares surging to their ceiling price at the start of the November 10th session, reaching VND 32,200 per share. Buy orders at the ceiling price exceeded 2.3 million shares by 9:30 a.m., despite this price being 12% lower than PVN’s starting price.
Over the past week, PET’s share price has climbed nearly 10%, extending its year-to-date gain to over 22%. Average daily trading volume has remained steady at around 1.2 million shares. The stock hit a three-year high of VND 41,300 per share on August 19th before retreating 22% to its current level. Notably, this peak remains 12% higher than PVN’s starting price.
| PET Share Price Performance Over the Past Year |
If the divestment is successful, PET will have only one major shareholder remaining: HD Fund Management JSC, which currently holds 13.56% of the capital. This decisive move comes amidst PET’s strong financial performance. In Q3 2025, the company reported a net profit of over VND 105 billion, 2.2 times higher than the same period last year and the second-highest quarterly profit in its history, just behind the record set in Q4 2021 (VND 122 billion).
For the first nine months of the year, PET’s net profit reached over VND 187 billion, a 65% increase year-on-year and the highest nine-month profit in over 15 years, despite a slight 2% decline in revenue to VND 14,216 billion. The company achieved 69% of its revenue target but exceeded its annual profit goal by 1%. The nine-month profit also surpassed the full-year profits of 2024 (VND 150 billion), 2023, and 2022.
| Petrosetco’s Business Results from 2016 to 9M2025 |
As of the end of September, PET’s bank deposits had significantly decreased to VND 946 billion, 46% lower than at the beginning of the year. Inventory also dropped by 17% to nearly VND 1,418 billion, with goods accounting for over 84% of the total.
– 09:43 10/11/2025
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In immediate response to the news that PVN will auction its entire 23.2% stake in Petrosetco (PET) at a starting price of VND 36,500 per share, PET’s stock surged to its daily limit in the morning session on November 10th.
