PVX wants to divest all its capital at PWA, accruing more than 19 billion dong

PVX wants to divest all its capital at PWA, accruing more than 19 billion dong

This transfer method is order matching or agreement, the execution time is expected from November 23 to December 22. The transfer price will be according to the market price on the stock exchange, but not lower than 12,430 VND / share.

Noted at the morning of November 20, PWA shares increased by 14.6% to 13,300 VND / share, temporarily calculated at this value, the amount of money PVX earned was more than 19.4 billion VND.

Petroleum Real Estate Joint Stock Company was established in 2006 with an initial charter capital of 30 billion VND, up to now this figure is 100 billion VND. Currently the largest shareholder of PWA is Vietnam Water and Environment Investment Corporation (owning nearly 25% capital), followed by PVX (owning 14.6% capital).

In 2019, PWA’s revenue increased by nearly 5 times compared to the previous year, to 428 billion dong, thanks to the 97 – 99 Lang Ha project (accounting for 418 billion dong of revenue); Profit after tax reached VND 20 billion, more than 3 times higher than in 2018.

In 2020, PWA sets a business plan of VND 293 billion in revenue and VND 15 billion in profit after tax, expected dividend rate of 10%.

Source: vietnamfinance.vn – Translated by fintel.vn

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