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REFILE-Vietnam's Petrolimex seeks to list shares on April 21 - chairman
March 29, 2017 / 8:04 AM / in 9 months

REFILE-Vietnam's Petrolimex seeks to list shares on April 21 - chairman

(Adds source of news as chairman in headline.)

HANOI, March 29 (Reuters) - Vietnam’s top fuel importer and distributor Petrolimex plans to list all of its shares on the Ho Chi Minh Stock Exchange on April 21, its chairman said on Wednesday.

A price for the listing has not been decided, chairman Bui Ngoc Bao told reporters on the sideline of Petrolimex’s listing roadshow, but would not be lower than the price sold to Japanese strategic investor JX Holdings.

Petrolimex’s shares are currently traded on Vietnam’s over-the-counter market at around 47,000-50,000 dong ($2.02-$2.19) per share, Bao said, bringing the company’s value to $2.7-$2.8 billion.

The listing of Petrolimex, which had its initial public offering in 2011, is part of the Vietnamese government’s push to privatise state-owned firms to attract investment. Three-fourths of Petrolimex is currently owned by the government JX Holdings owns another 8 percent.

($1=22,765 dong)

Reporting by Mai Nguyen; Editing by Christian Schmollinger

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